In a certain economy, toys and greeting cards are produced, and the economy currently operates on its production possibilities frontier. Which of the following events would allow the economy to produce more toys and more greeting cards, relative to the quantities of those goods that are being produced now?
a. The economy experiences economic growth.
b. There is a technological advance in the toy industry, but the greeting card industry experiences no such advance.
c. There is a technological advance in the greeting card industry, but the toy industry experiences no such advance.
d. All of the above are correct.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “In a certain economy, toys and greeting cards are produced, and the economy currently operates on its production possibilities frontier. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The average German worker worked about 400 fewer hours per year and earned nearly $14,000 less than did the average worker in the United States.
Answers (1)
Jake recently invested in a Hottie Potatee franchised business that serves potatoes with all the trimmings. The business needs lots of employees in order to operate effectively.
Answers (1)
Monmouth Inc.'s stock has a 30% chance of producing a 20% return, a 30% chance of producing a 10% return, and a 40% chance of producing a - 10% return. What is the firm's expected rate of return?
Answers (2)
Incremental costs can be defined as: Costs that are expected to increase regardless of the course of action chosen. The differences between costs incurred under alternative courses of action. Costs incurred in the past.
Answers (1)
Elise's health insurance policy has a deductible of $500, a $20 copayment on doctor visits, and coinsurance of 10% on all expenses other than those for which there are copayments.
Answers (1)
New Questions in Business
Vaughn Company exchanged equipment used in its manufacturing operations plus $4,020 in cash for similar equipment used in the operations of Bramble Company. The following information pertains to the exchange. Vaughn Co. Bramble Co.
Answers (1)
You hike uphill at a rate of 200 feet per minute. Your friend hikes downhill on the same trail at a rate of 250 feet per minute. How long will it be until you meet? The friend at the bottom is starting at 100 feet and hiking up.
Answers (1)
A person who offers law-related advice without the appropriate licensing is commuting
Answers (1)
What would the production components be for the input, conversion and output for opening a summer band camp?
Answers (1)
When the price of a product is increased 10 percent, the quantity demanded decreases 15 percent. The price-elasticity of demand coefficient for this product is
Answers (1)