Exhibit 2-3 -Refer to Exhibit 2-3.If PPF₁ is the relevant production possibilities frontier,PPF₂ may depict A)economic growth. B)an increase in resources. C)an increase in technology. D)both b and c E)all of the above

Question

Quizplus · Accepted Answer

PPF₂ can depict economic growth, an increase in resources, or an increase in technology, as all these factors can lead to an outward shift of the production possibilities frontier.

Exhibit 2-3 -Refer to Exhibit 2-3.If PPF1 Is the Relevant Production Possibilities

Exhibit 2-3 -Refer to Exhibit 2-3.If PPF₁ Is the Relevant Production Possibilities