Ans) the correct option is c. an increase in the average skill level of occupational groups
Increase in the efficiency of workers will lead to an outward shift of production possibility Frontier.
All of the following could immediately or eventually lead to an inward shift of a nation's production possibilities cur...
Chapter overview 1. Reasons for international trade Resources reasons Economic reasons Other reasons 2. Difference between international trade and domestic trade More complex context More difficult and risky Higher management skills required 3. Basic concept s relating to international trade Visible trade & invisible trade Favorable trade & unfavorable trade General trade system & special trade system Volume of international trade & quantum of international trade Commodity composition of international trade Geographical composition of international trade Degree / ratio of...