An economy produces two goods, clothing and petroleum. Which of the following would explain a pivot inwards along the petroleumаxis?Select one:O a. a productive improvement in clothing production that has no effect on petroleum productionO b. an increase in the size of the labor force that can produce either petroleum products or clothingO c. major oil reserves in Alaska are declared off-limits to producers in order to protect the environmentO d. major oil reserves are discovered off the coast of AfricaOe.a productive improvement in petroleum production that has no effect on clothing production

Inward shift in PPF:- 1) Major storms, flooding, and other major hazards can be disastrous to a…

Answered: An economy produces two goods, clothing…

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter2: Economic Tools And Economic Systems

Section: Chapter Questions

Problem 3.7P

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