GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is LEAST likely tocause a shift in the production possibilityfrontier?
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An increase in population
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The use of unemployed resources
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An advancement in technology
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The discovery of a new naturalresource
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Explanation:
Detailed explanation-1: -Answer and Explanation: The correct option is a. a decrease in unemployment.
Detailed explanation-2: -Where there is advancement of technology or increase in availability of resources or introduction of a production method with improved efficiency in respect to both the goods, then PPF will shift to the right, i.e. outwards. This is because the more of both are goods are being produced due to the above factors.
Detailed explanation-3: -Option D) is correct: a decrease in the average number of hours worked per week as the labor force chooses to enjoy more leisure time.
There is 1 question to complete.