Points located within the production possibilities frontiers is best described as
A) Efficient
B) Unattainable
C) Attainable
D) Possible
Correct Answer:
Verified
Q2: Reference:
Table SEQ Table 1: Production
Q3: An economic model is
A)A value judgment
B)A simplification
Q4: A positive statement
A)Cannot be tested
B)Is dependent on
Q5: Reference:
Table SEQ Table 1: Production
Q6: Models represent
A)Reality
B)Market corrections
C)Behavior differences
D)Exceptions to general rules
Q8: A production possibilities model identifies
A)Choices available to
Q9: Combinations of output that lie on the
Q10: A production possibilities frontier PPF) illustrates this
A)The
Q11: The choice of specialization is founded on
A)Marginal
Q12: The slope of the production possibilities frontier
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