Chapter 1 & 2 Quiz & Test - Chapter 1\/2 Which of the following would not lead to a shift in an economy's production possibilities curve Change

Chapter 1 & 2 Quiz & Test - Chapter 1/2 Which of the...

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Chapter 1/2Which of the following wouldnotlead to a shift in an economy's production possibilities curve?-Change in the composition of current output.Which of the following doesnotillustrate opportunity cost?-All of these illustrate opportunity cost.Efficient production means producing:-the maximum feasible output for a given amount of resources.Given a production possibilities curve, a point:-all of these.The production possibilities curve illustrates all of the following concepts except:-unlimited wants.With time, which one of the following strategies wouldmostlikely result in an outward shift in the production possibilities curve of an economy?-instituting a tax policy encouraging investment at the expense of consumption.The amount of a good that must be given up to produce another good is the concept of:-opportunity cost.A source of economic growth is:-greater entrepreneurship.On a production possibilities curve diagram, greater entrepreneurship:-causes the curve to shift outward.
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