An improvement in technology, all other things remaining constant, will always result in a parallel shift of the product

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An improvement in technology, all other things remaining constant, will always result in a parallel shift of the production possibilities frontier. will never result in a parallel shift of the production possibilities frontier will be indicated by a movement along the production possibilities frontier will shift the production possibilities frontier outward but not necessarily to a parallel position. may not shift the production possibilities frontier
Which of the following is measured along an axis of the production possibilities frontier diagram? the quantity of a good produced society's welfare and satisfaction the quantity of natural resources the state of technology the price of a good produced
is the value of the best alternative forgone when an item or activity is chosen. The opportunity cost The explicit cost The direct cost The implicit cost The choice cost
When economists refer to human capital, they refer to: income earned by capitalists skills used in production. dividends earned by investors bonds held by the public. bank loans given to the public