Asked by Alyssa Grant on May 01, 2024
Verified
Referring to a production possibilities curve and the goods being compared,depict the economic event.Millions of immigrants came to the United States in the second half of the 19th century to work on the transcontinental railroad (capital goods vs.consumer goods) .
A) A movement from a point inside the curve to a point on or near the curve
B) A movement from a point on or near the curve to a point inside the curve
C) A shift in the entire curve to the right (outward)
D) A shift in the entire curve to the left (inward)
E) A movement along the curve
Transcontinental Railroad
A continuous network of railroad trackage that crosses a continental land mass with terminals at different oceans or continental borders.
Production Possibilities Curve
A graphical representation showing the maximum combination of goods and services that can be produced using all available resources efficiently.
- Comprehend the significance of technological innovation and immigration in broadening a nation's production possibilities frontier.
- Delve into the effects of historical phenomena and societal renewals on the economic standing and productive capacity of nations.
Verified Answer
ZK
Zybrea KnightMay 04, 2024
Final Answer :
C
Explanation :
The influx of millions of immigrants to work on the transcontinental railroad would increase the availability of labor and potentially allow for the production of more capital goods (in this case, the railroad). This would cause a shift in the production possibilities curve to the right (outward).
Learning Objectives
- Comprehend the significance of technological innovation and immigration in broadening a nation's production possibilities frontier.
- Delve into the effects of historical phenomena and societal renewals on the economic standing and productive capacity of nations.
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