The production possibilities curve of a low income country lies outside the production possibilities curve of a high income country
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
If a society produces at a point on the production possibilities frontier, this is consistent with the full employment of resources.
Answer the following statement true (T) or false (F)
The figure above shows the costs associated with producing paper. When paper is produced, there is some pollution runoff into a lake. The marginal private cost when output equals 2 tons of paper per week equals
A) $50 per ton B) $100 per ton. C) $150 per ton. D) None of the above answers is correct.
When effects are irreversible, it may be sensible to treat their possible causes even if they cannot be identified with certainty
Indicate whether the statement is true or false
Specialization of labor typically leads to higher levels of productive inefficiency in an economy
a. True b. False