An improvement in technology will cause the
A) production possibility frontier to shift outward.
B) production possibility frontier to shift inward.
C) economy to move down the production possibility frontier.
D) economy to move closer to its production possibility frontier.

Question

Quizplus · Accepted Answer

An improvement in technology enhances the efficiency of production, allowing an economy to produce more goods and services with the same amount of resources, which is represented by an outward shift of the production possibility frontier (PPF).

An Improvement in Technology Will Cause the