Asked by
pablo escobar
on Dec 16, 2024Verified
Which of the following factors can influence the production possibilities frontier in the future?
A) The amount of capital produced
B) A fall in the rate of inflation
C) A decrease in consumption in an economy
D) An increase in the tax rate
E) A legal reform that increases transaction costs
Production Possibilities Frontier (PPF)
A curve depicting the maximum output possibilities for two goods, given a set of inputs and technology, illustrating the trade-offs in production choices.
Legal Reform
The process of examining existing laws and making modifications or amendments to improve justice or efficiency.
- Determine elements that result in adjustments to the Production Possibility Frontier and grasp their significance within an economic context.
Verified Answer
LS
Learning Objectives
- Determine elements that result in adjustments to the Production Possibility Frontier and grasp their significance within an economic context.
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