4. The shift of the production possibilities frontier from A to B in the figure above illustrates a. simultaneous technological advances in the battery and bagel industries. b. a reallocation of resources away from the production of bagels and toward the production of batteries. c. economic growth. d. All of the above are correct. BatteriesBA 1Bagels4. The shift of the production possibilities frontier from A to B in the figure above illustratesa. simultaneous technological advances in the battery and bagel industries.b. a reallocation of resources away from the production of bagels and toward theproduction of batteries.c. economic growth.d. All of the above are correct.

Production possibility frontier depicts the combination of two goods that can be produced by using…

Answered: The shift of the production…

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter8: Productivity And Growth

Section: Chapter Questions

Problem 1.2P

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4. The shift of the production possibilities frontier from A to B in the figure above illustrates a. simultaneous technological advances in the battery and bagel industries. b. a reallocation of resources away from the production of bagels and toward the production of batteries. c. economic growth. d. All of the above are correct.

Batteries
B
A 1
Bagels
4. The shift of the production possibilities frontier from A to B in the figure above illustrates
a. simultaneous technological advances in the battery and bagel industries.
b. a reallocation of resources away from the production of bagels and toward the
production of batteries.
c. economic growth.
d. All of the above are correct.

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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