Asked by
Jaxson Schoening
on Nov 30, 2024
Verified
An increase in the unemployment rate would be shown on a production possibilities curve by
A) shifting the entire curve outward.
B) shifting the entire curve inward.
C) moving from a point on or near the curve to a point closer to the origin,rather than shifting the entire curve.
D) moving from a point inside the curve to a point on or at least closer to,the curve,rather than shifting the entire curve.
Production Possibilities Curve
A curve depicting all maximum output possibilities for two goods, given a set of inputs and technology.
Unemployment Rate
The fraction of the labor market actively in pursuit of work but is currently jobless.
- Acquire knowledge about how variations in economic conditions affect the production possibilities frontier and unemployment percentages.
Verified Answer
RT
Learning Objectives
- Acquire knowledge about how variations in economic conditions affect the production possibilities frontier and unemployment percentages.