Which of the following statements is true?
A) In a world of efficiently used scarce resources,more of one good necessarily means less of some other good.
B) The law of increasing opportunity costs assumes that all people have the same ability to produce goods.
C) Efficiency implies that it is impossible to get more of one good without getting less of another.
D) Even if a country has unemployed resources,it can still be operating on its production possibilities frontier (PPF).
E) a and c

Question

Quizplus · Accepted Answer

Both statements A and C are true because they reflect fundamental principles of economics. Statement A refers to the concept of opportunity cost, which is the idea that to produce more of one good, a society must forgo the production of another good. Statement C addresses the concept of efficiency in resource allocation, implying that when resources are used efficiently, producing more of one good without reducing the quantity of another is not possible, assuming all resources are fully utilized.

Which of the Following Statements Is True