A production possibilities curve shows:
A) the maximum combinations of two goods or services that can be produced when resources are fully used and the best technology is employed.
B) the minimum combinations of two goods or services that can be produced when resources are fully used and the best technology is employed.
C) the maximum combinations of two goods or services that can be produced when the unemployment rate in the economy is not above 6 percent.
D) the maximum combinations of two goods or services that can be produced when the economy is at the trough of the business cycle.
Correct Answer:
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Q25: Which of the following statements does NOT
Q26: The economy in the U.S:
A) has recently
Q27: Economic stagnation has become a concern because:
A)
Q28: Efforts and services of people in production
Q29: Adam Smiths view of the political economy
Q31: The four primary resources are:
A) land, labor,
Q32: Man-made, durable items used in the production
Q33: Resources found in nature, such as land,
Q34: The U.S. growth rates for the 1990-99
Q35: According to some economists, low taxes, free
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