Inefficiency occurs when an economy is operating outside its production possibilities curve.
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Q177: The major difference between natural resources and
Q178: There is no role for government in
Q179: A production possibilities curve measures cost in
Q180: Natural resources are resources that occur in
Q181: A production possibilities curve measures opportunity cost
Q183: The present position of a nation on
Q184: If the U.S. economy adds to the
Q185: Without government, the "for whom" question could
Q186: The law of increasing opportunity cost results
Q187: A point inside the production possibilities curve
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