-Statement I.Technological advance pushes a country's production possibilities frontier outward.
Statement II.Our economic growth slowed down from the early 1970s compared to the two decades before the 1970s.
A)Statement I is true and statement II is false.
B)Statement II is true and statement I is false.
C)Both statements are true.
D)Both statements are false.

Question

-Statement I.Technological advance pushes a country's production possibilities frontier outward.
Statement II.Our economic growth slowed down from the early 1970s compared to the two decades before the 1970s.
A)Statement I is true and statement II is false. 
B)Statement II is true and statement I is false. 
C)Both statements are true. 
D)Both statements are false.

Quizplus · Accepted Answer

Statement I is true because technological advancements increase the efficiency of production, allowing a country to produce more goods and services with the same amount of resources, effectively pushing the production possibilities frontier outward. Statement II is also true as economic growth in many advanced economies slowed down in the 1970s compared to the rapid growth experienced during the post-World War II era, often due to a variety of factors including oil crises, inflation, and changes in global economic dynamics.