Assuming the PPF is shifting from PPFo to PPFn, which of the following explains the cause or causes of the economic growth depicted in this Figure? a) This Figure represents growth due to an increase in resources and/or improvement in technology that are specific to the production of X. b) This Figure represents growth due to an increase in resources and/or improvement in technology that are specific to the production of Y. c) This Figure represents growth due to an increase in resources and/or improvement in technology that are not specific to either product. d) This Figure represents growth due to an increase in specialization.
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Assuming the
PPF is shifting from PPFo to PPFn, which of the following explains the cause or causes of theeconomic growth depicted in this Figure?a) This Figure represents growth due to an increase in resources and/or improvement in technology that are specific to the production of X.
b) This Figure represents growth due to an increase in resources and/or improvement in technology that are specific to the production of Y.
c) This Figure represents growth due to an increase in resources and/or improvement in technology that are not specific to either product.
d) This Figure represents growth due to an increase in specialization.
Production possibility frontier (PPF) is the graphical representation of different combinations of two products with fixed resources.
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