If previously unemployed factors of production are utilized, _____.
A) the economy moves along the production possibility frontier
B) the production possibility frontier shifts outward to the extent of the output that is
C) the production possibility frontier is not affected
D) the economy will move from a point below the production possibility frontier to a point on
Correct Answer:
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Q15: Using all its resources, an economy can
Q16: A single point on a production possibility
Q17: The problem of scarcity implies that _.
A)
Q18: The central problem in economics is that
Q19: Which of the following pertains to microeconomics?
A)
Q21: The assumption that firms are profit-maximizers is
Q22: Which of the following is likely to
Q23: An economy is said to be well-endowed
Q24: Which of the following is likely to
Q25: Other things remaining unchanged, which of the
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