Which one of the following statements is TRUE?
A) All points on the production possibilities curve represent an equal distribution of income.
B) The slope of the production possibilities curve reveals the current rate of economic growth.
C) When the economy is operating efficiently, it will be at a point inside its production possibilities curve.
D) Points outside the production possibilities curve are unattainable given current technology and resources.
Correct Answer:
Verified
Q20: The downward-slope of the production possibilities curve
Q21: The slope of the production possibilities curves
Q22: What might cause a country to operate
Q23: When economists assume that people are motivated
Q24: The production possibilities curve represents
A) possible combinations
Q26: In moving from point to point along
Q27: Technology can cause the production possibilities curve