Unemployment causes production levels to be inefficient.
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Q60: Figure 2-10 Q61: The opportunity cost of something is what Q62: When a production possibilities frontier is bowed Q63: An outcome is said to be efficient Q64: A production possibilities frontier will be bowed Q66: Points on the production possibilities frontier represent Q67: Points outside the production possibilities frontier represent Q68: A production point is said to be Q69: If an economy can produce more of Q70: Economists believe that production possibilities frontiers rarely
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