The production possibilities curve is shifting to the right and as a consequence we attain economic...
The production possibilities curve is shifting to the right and as a consequence we attain economic growth. Which of the following best describes the reason?
Economic growth may not be achieved, unless scarcity as a problem is resolved once and for all.
Is reflected by a shift of the production possibilities curve to an inefficient point.
Increase in the production of one good; while decreasing production of another good along the ppc.
Due to expanding resource supplies and technological advancement.
Increase in the nations money supply, will lead to a rightward shift of the ppc.
Homework Answers
PPF is drawn for a given volume of resources and a given technology. If there is a shift in the PPF to the right, it implies that there is an increase in the quantity of available resources and / or there is an advancement in technology that has raised the productivity. We can attain economic growth because production of goods and services is increased.
Select Due to expanding resource supplies and technological advancement.
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first, move the graph
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