Asked by Ashley Combs on Apr 27, 2024
Verified
(Figure: Production Possibility Frontier for Tealand) Use Figure: Production Possibility Frontier for Tealand.Tealand can produce at point E only if:
A) the government eliminates unemployment.
B) the government raises taxes.
C) the country experiences economic growth.
D) increases the cost of production by decreasing the use of technology.
Economic Growth
The increase in the production and consumption of goods and services, leading to an improvement in the standard of living over time.
- Investigate the causes for alterations in the production possibility frontier and the relevance of these modifications.
Verified Answer
ZK
Zybrea KnightMay 03, 2024
Final Answer :
C
Explanation :
Point E is outside of the production possibility frontier, indicating that it is not currently achievable with Tealand's current resources and technology. Economic growth, such as through the development of new technology or improvements in productivity, could enable Tealand to reach this point in the future.
Learning Objectives
- Investigate the causes for alterations in the production possibility frontier and the relevance of these modifications.
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