Points that lie outside the production possibilities curve are ________, and points that lie inside the production possibilities curve are ________.
A. efficient; inefficient
B. attainable; unattainable
C. unattainable; attainable
D. inefficient; efficient
Answer: C
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How does the idea of independent events help in explaining the gambler's fallacy in a roulette game?
What will be an ideal response?
Two-part pricing allows the monopoly firm to capture all of the potential consumer surplus generated by the sale of its product
Indicate whether the statement is true or false
In this graph, what does point A show?
a. the average total cost at the equilibrium quantity
b. the average total cost at zero quantity
c. the demand at the equilibrium quantity
d. the demand at zero quantity
The real interest rate is the difference between ________ and ________.
A. the interest rate on a loan; the inflation rate B. nominal interest rate; depreciation C. frictional inflation rate; structural inflation rate D. inflation rate; GDP deflator