If an economy is operating at a point inside the production possibilities curve,
A) its resources are not being used efficiently.
B) opportunity costs are decreasing as more of one good is traded for the other good.
C) technology has improved.
D) there is full employment of all resources.
Correct Answer:
Verified
Q45: Exhibit 2-7 Production possibilities curve Q46: If an economy is producing at full Q47: Exhibit 2-9 Production possibilities curve Q48: Which of the following most accurately summarizes Q50: When an economy's resources are not fully Q51: When the production possibilities curve is bowed Q52: Exhibit 2-4 Production possibilities curve data Q53: The production possibilities curve shows that: Q54: Suppose a 50-seat bus is about to Q152: In Europe during the 14th century, the
A) some
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