If all resources are used efficiently to produce goods and services, a nation will find itself producing
A)inside its production possibilities frontier
B)somewhere on its production possibilities frontier
C)outside of its production possibilities frontier
D)at one extreme end of its production possibilities frontier
E)more of one product with no decrease in the production of any other product

Question

Quizplus · Accepted Answer

The production possibilities frontier represents the maximum amount of goods and services that a nation can produce given its resources and technology. If all resources are used efficiently, the nation will be producing at a point on its production possibilities frontier.

If All Resources Are Used Efficiently to Produce Goods and Services