The table above lists six points on the production possibilities frontier for grain and cars. From this information you can conclude that production is inefficient if this economy produces
A) 6 tons of grain and 18 cars.
B) 4 tons of grain and 26 cars.
C) 2 tons of grain and 27 cars.
D) 8 tons of grain and 10 cars.
C
You might also like to view...
What is the relationship between the marginal revenue curve and the demand curve for a single-price monopoly?
What will be an ideal response?
A monetary aggregate is a measure of
A) the inflation rate. B) the total economic activity of the country. C) money broader than currency. D) definitive money.
Concerning economic growth, which of the following is true?
a. A favorable institutional environment will tend to attract more investment in human and physical capital. b. Poor nations grow slowly because they do not have access to modern technology c. Human and physical capital investments are largely irrelevant to economic growth. d. Nations achieve high rates of economic growth primarily because of their natural resource endowments.
Because people move into and out of the labor force so often, statistics on unemployment are difficult to interpret
a. True b. False Indicate whether the statement is true or false