1. Improvements in technology. 2. Increases in the supply (stock) of capital goods. 3. Purchases of expanding output. 4. Obtaining the optimal combination of goods, each at least-cost production. 5. Increases in the quantity and quality of natural resources. 6. Increases in the quantity and quality of human resources. Which set of items in the accompanying list would: v shift an economy's production possibilities curve outward? v move an economy from a point inside its production possibilities B. 1, 3, and 4 only A. 3 only curve to a point on its production possibilities curve? C. 3 and 4 only D. 1, 2, 5, and 6 only

1. Improvements in technology. 2. Increases in the supply (stock) of capital goods. 3. Purchases of expanding output. 4. Obtaining the optimal combination of goods, each at least-cost production. 5. Increases in the quantity and quality of natural resources. 6. Increases in the quantity and quality of human resources. Which set of items in the accompanying list would: v shift an economy's production possibilities curve outward? v move an economy from a point inside its production possibilities B. 1, 3, and 4 only A. 3 only curve to a point on its production possibilities curve? C. 3 and 4 only D. 1, 2, 5, and 6 only

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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