Econ 001 - Principles of Economics » Fall 2021 » Quiz on Lesson 4

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Question #1
The Production Possibilities Curve graph shows Society's "fixed pie" can grow! The PPC curve can shift outward, when efficient new technologies are discovered (for example).
A.   TRUE
B.   FALSE
Question #2
Which of the following can cause the Production Possibilities Curve to shift OUTWARD (away from the origin on graph):
A.   more efficient technologies are invented. and hurricanes destroy factories and farms
B.   more efficient technologies are invented and more resources (like new mineral deposits and more farmland) are discovered.
C.   a drought hurts farms and hydro-electric supplies and more efficient technologies are invented.
D.   a drought hurts farms and hydro-electric supplies and hurricanes destroy factories and farms

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