A nation can produce two products: steel and wheat. The table below is the nation's production possibilities schedule:





Refer to the above table. If the nation uses all of its resources to produce only wheat, then its production combination will be:



A. A

B. B

C. E

D. F


Answer: A

Economics

You might also like to view...

Explain why Argentina, one of the world's richest countries at the start of the twentieth century, has become progressively poorer relative to the industrial countries

[An alternative question: What explains Argentina's regress from riches to rags?]

Economics

Network affects can be present when the

A) internet was initially open to everyone. B) costs of production are low relative to the cost of distribution. C) cost of production are low relative to the costs of rent-seeking. D) costs of distribution are low relative to the costs of production.

Economics

Examples of public goods include national defense, police, and the U.S. Postal Service.

Answer the following statement true (T) or false (F)

Economics

The notion that buyers determine what will be produced by choosing what they purchase is called consumer sovereignty.

Answer the following statement true (T) or false (F)

Economics