Exhibit 1-8 
-If society begins by producing 3 units of X and 4 units of Y and then alters production so that it is now producing 4 units of X and 4 units of Y, and we know that the quantity and quality of resources were unchanged and that technology did not change, then
A) society has moved along the production possibilities curve.
B) the combination of 3 units of X and 4 units of Y are best represented by a point inside the production possibilities curve.
C) the combination of 3 units of X and 4 units of Y are best represented by a point outside the production possibilities curve.
D) resources were being fully utilized at 3 units of X and 4 units of Y.
E) resources were being efficiently utilized at 3 units of X and 4 units of Y.
Correct Answer:
Verified
Q94: Exhibit 1-7 Q95: When an economy is operating on its Q96: If firms adopt a technology that can Q97: Inefficient use of a nation's resources would Q98: A point lying inside the production possibilities Q100: Exhibit 1-6 Q101: Is it possible for an economy to Q102: The movement from a point inside a Q103: Exhibit 1-9 Q104: The production possibilities curve is immovable, meaning Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
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