Asked by

Betty Acquah
on Dec 12, 2024

verifed

Verified

Which of the following will be most likely to cause the production possibilities curve for a country to shift inward?

A) an increase in the labor force
B) an increase in unemployment
C) development of an improved technological method of production
D) a decrease in the stock of physical capital

Production Possibilities Curve

A graph that shows the maximum number of goods or services that can be produced with limited resources.

Shift Inward

A decrease in the supply or demand of a product, represented by a leftward movement on a graph.

Physical Capital

Refers to the human-made resources used in the production of goods and services, such as machinery, buildings, and equipment.

  • Identify the elements that may cause the production possibility curve to move inward or outward, indicating alterations in the potential output of an economy.
verifed

Verified Answer

MK
Morgan KoromaDec 16, 2024
Final Answer:
Get Full Answer