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Following Is the Production Possibilities Schedule for an Economy Producing

Question 18

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Following is the production possibilities schedule for an economy producing two goods, Good A and Good B.Table 2.1
Following is the production possibilities schedule for an economy producing two goods, Good A and Good B.Table 2.1 -Which of the following conditions is true for a nation operating at a point lying inside its production possibilities curve? A) The nation is experiencing a technological breakthrough in one of its key industries. B) The nation is clearly utilizing its resources efficiently. C) The nation is producing the maximum output that can be produced with a limited quantity of resources. D) The nation is not utilizing its resources efficiently. E) The nation is producing the maximum output that can be produced with its unlimited quantity of resources.
-Which of the following conditions is true for a nation operating at a point lying inside its production possibilities curve?


A) The nation is experiencing a technological breakthrough in one of its key industries.
B) The nation is clearly utilizing its resources efficiently.
C) The nation is producing the maximum output that can be produced with a limited quantity of resources.
D) The nation is not utilizing its resources efficiently.
E) The nation is producing the maximum output that can be produced with its unlimited quantity of resources.

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