How do technological advances affect a nation's production possibilities curve?

A. The curve will shift inward (to the left).
B. The curve will shift outward (to the right).
C. The curve will remain unchanged.
D. The change to the curve cannot be determined based on the information provided.

Technological advances can lead to an outward shift in a nation's production possibilities curve. When there is an increase in the physical quantity or quality of factors of production or technological gains, the economy can produce more goods and services, resulting in economic growth and the curve shifting outward.

This shift allows the economy to reach previously unattainable levels of production, thereby expanding its possibilities. These advancements contribute to economic growth and propel the nation towards increased productivity and efficiency.

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How do technological advances affect a nation's production possibilities curve?A. The curve will shift inward (to the left).B. The curve will shift outward (to the right).C. The curve will remain unchanged.D. The change to the curve cannot be determined based on the information provided.

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Other Questions

How do technological advances affect a nation's production possibilities curve?

A. The curve will shift inward (to the left).
B. The curve will shift outward (to the right).
C. The curve will remain unchanged.
D. The change to the curve cannot be determined based on the information provided.