The construction of a production possibilities curve assumes
A) the quantities of all resources are unlimited.
B) technology is fixed.
C) some resources are unemployed.
D) there is no inflation in the economy.
Correct Answer:
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Q100: A production possibilities curve illustrates
A) scarcity.
B) market
Q101: Assume an economy is incurring unemployment. The
Q102: The production possibilities curve shows
A) the various
Q103: If an economy is operating inside its
Q104: If an economy is operating on its
Q106: The concept of opportunity cost
A) is irrelevant
Q107: Which of the following is not correct?
Q108: Answer the question on the basis of
Q109: The law of increasing opportunity costs states
Q110: The negative slope of the production possibilities
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