ECON8305docx (446).pdf - 253 iChapter i2u2014Choice...

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253. i Chapter i 2 Choice, i Opportunity i Costs, i and i Specialization i Quest110 i An i economy's i PPC i illustrates i the i extent i to i which i the i economy i consumes i what i it i produces. a. i True *b. i False 254. i Chapter i 2 Choice, i Opportunity i Costs, i and i Specialization i Quest111 i If i the i minimum i working i age i is i raised i from i 16 i to i 18, i the i PPC i will i shift i inward. *a. i True b. i False 255. i Chapter i 2 Choice, i Opportunity i Costs, i and i Specialization i Quest112 i If i there i is i a i technological i advance i that i makes i the i production i of i automobiles i more i efficient, i a i producer i of i automobiles i and i other i goods i will i move i from i a i point i on i its i PPC i to i a i point i outside i its i PPC, i but i a i shift i of i the i PPC i will i not i occur. a. i True *b. i False 256. i Chapter i 2 Choice, i Opportunity i Costs, i and i Specialization i Quest113 i Economic i growth i is i represented i by i shifting