Asked by
Briana Burras
on Nov 05, 2024
Verified
Refer to Figure 2.6. Which of the following is most likely to shift the production possibility frontier from ppf1 to ppf2?
A) a change in consumer tastes
B) the purchase of stocks on the New York Stock Exchange
C) moving resources from capital to consumer goods
D) an increase in the general educational level of the population
Educational Level
A measure of the highest degree or level of school completed or the highest degree obtained by an individual.
Consumer Tastes
The preferences and desires of consumers that influence their purchasing behavior and are affected by factors such as culture, trends, and personal experiences.
New York Stock Exchange
A leading global securities exchange where stocks, bonds, and other financial instruments are bought and sold.
- Acquire knowledge about the importance of modifications in the Production Possibility Frontier and how these modifications correlate with technological advancements, increased capital stock, and changes in the economic setting.
- Learn the potential outcomes of improvements in education and general knowledge on economic growth and production possibilities.
Verified Answer
KW
Learning Objectives
- Acquire knowledge about the importance of modifications in the Production Possibility Frontier and how these modifications correlate with technological advancements, increased capital stock, and changes in the economic setting.
- Learn the potential outcomes of improvements in education and general knowledge on economic growth and production possibilities.