Scarcity is represented on a production possibilities frontier figure by
A) the amount of the good on the horizontal axis forgone.
B) the fact that there are only two goods in the diagram.
C) technological progress.
D) the fact there are attainable and unattainable points.
Correct Answer:
Verified
Q14: The production possibilities frontier
A) depicts the boundary
Q15: When producing at a production efficient point,
A)
Q16: Production efficiency occurs when production
A) is at
Q17: Which of the following is NOT illustrated
Q18: Which of the following is NOT true
Q20: The production possibilities frontier itself illustrates
A) all
Q21: Sam's production possibilities frontier has good A
Q22: A point inside a production possibilities frontier
A)
Q23: If an economy is operating at a
Q24: A reduction in the amount of unemployment
A)
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