Any point on the PPF implies_______
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Any point inside the curve of PPF implies_________
An increase in the quantity of resources available:
1. moves the economy to a new point down along a given PPF.
2. moves the economy to a new point up along a given PPF.
3. shifts the PPF rightward.
4. shifts the PPF leftward.
Although a production possibilities frontier (PPF) is usually drawn for a country, one could be drawn for the world. Picture the world's PPF. Is the world position at a point on the PPF or below it?