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Exam (elaborations)
Microeconomic: Principles of a changing world Chapter 2
correct answersExpanding resources 
2 reasons for economic growth - correct answerstechnology and training 
1.More resources (Labor or Capital). if more resources are available the PPF will move 
outward. 
2.Technology advance. technology can be generally applied in all industries or specific 
to one certain industry. with more advanced general technology, the PPF will move 
outward 
absolute advantage - correct answersAn absolute advantage can exist one country can 
produce more of a good ...