Asked by
Hailey Tester
on Nov 11, 2024
Verified
An outward shift of the production possibilities frontier:
A) reflects economic stability.
B) reflects economic growth.
C) reflects economic decline.
D) does not relate to the state of the economy.
E) is always a parallel shift.
Economic Growth
An increase in the amount of goods and services produced per head of the population over a period of time, reflecting a growing economy.
Outward Shift
In economics, refers to the movement of a curve away from the origin on a graph, typically illustrating growth or increase in factors like production possibility frontier or supply curve.
- Recognize how adjustments in resources, technology, and policy can alter the Production Possibilities Frontier's stance, reflecting economic upsurge or downturn.
- Identify the demonstration of economic expansion through the outward movement of the PPF and grasp the elements fostering such expansion.
Verified Answer
TD
Learning Objectives
- Recognize how adjustments in resources, technology, and policy can alter the Production Possibilities Frontier's stance, reflecting economic upsurge or downturn.
- Identify the demonstration of economic expansion through the outward movement of the PPF and grasp the elements fostering such expansion.
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