Which of the following economic questions does the decision to produce butter instead of guns in an economy answer?
A) What to produce?
B) How to produce?
C) For whom to produce?
D) Who has a comparative advantage in gun production?
E) Who has an absolute advantage in butter production?
Correct Answer:
Verified
Q143: An outward shift of the production possibilities
Q145: An improvement in technology, all other things
Q146: Every economy must answer each of the
Q147: An improvement in the technology used to
Q148: The production possibilities frontier will shift if
Q149: If dairy farmers use automatic milking machines
Q151: The production possibilities frontier of an economy
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