Asked by
Marina Hanna
on Dec 05, 2024Verified
The production possibility frontier will shift outward because of:
A) a decrease in the labor force.
B) an increase in infrastructure spending.
C) better technology that improves worker productivity.
D) a decrease in the unemployment rate.
Infrastructure Spending
Expenditure on fundamental physical systems and facilities, such as transportation, water supply, and energy, to support societal functions and economic growth.
Worker Productivity
Worker productivity measures the output of goods and services generated per unit of labor input, such as per labor hour.
- Detail the effect of technological innovation on the production possibilities frontier.
- Assess the variables contributing to the displacement of the production possibility frontier and the significance of these adjustments.
Verified Answer
MM
Learning Objectives
- Detail the effect of technological innovation on the production possibilities frontier.
- Assess the variables contributing to the displacement of the production possibility frontier and the significance of these adjustments.