If an economy is operating on its production possibilities frontier, it must be using its resources efficiently.
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Q1: Opportunity costs change as an economy moves
Q2: Which of the following will not shift
Q3: If an economy is operating on its
Q4: Opponents of free trade often argue that
Q6: The production possibilities frontier demonstrates the basic
Q7: Tariffs and quotas cause deadweight losses because
Q8: All points on a production possibilities frontier
Q9: A tariff raises the price of a
Q10: Comparative advantage is a comparison based on
Q11: Points outside the production possibilities frontier are
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