Exhibit 3-14 
-Refer to Exhibit 3-14. Assuming that the production possibilities curve extends out farther as indicated above due to technological change, which of the following observations is correct?
A) There is a technological advance in food production but not in housing production.
B) There is a technological advance in housing production but not in food production.
C) There is a technological advance in both housing and food production.
D) none of the above
Correct Answer:
Verified
Q163: Exhibit 3-14 Q164: Draw a picture of a production possibilities Q165: Does economic growth eliminate scarcity? Q166: Suppose Freeland produces few consumption goods and Q167: Which of the following would be most Q169: It can be said that, ultimately, consumers Q170: Which of the following is NOT illustrated Q171: A move from an abnormally high rate Q172: Illustrate a production possibilities curve for automobiles Q173: Exhibit 3-14 
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