The production possibilities frontier is a diagram that shows:
a. the productively efficient combinations of two products that an economy can produce given the resources it has available.
b. the productively efficient combinations of two products that can be produced on a worldwide basis given demand.
c. the productively inefficient combinations of a single product that an economy can produce given the resources it has available.
d. the productively efficient combinations of two products that an economy can produce regardless of if the resources are available.
a. the productively efficient combinations of two products that an economy can produce given the resources it has available.
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Free riding is primarily a characteristic of which type of good?
A) a pure private good B) a pure public good C) a club good D) a common pool resource
All else equal, if job turnover has people leaving jobs and finding new jobs in the same industry, this will
A) decrease the supply of labor, but not change the demand for labor. B) increase the demand for labor and the supply of labor. C) increase the demand for labor and decrease the supply of labor. D) not change demand or supply in the labor market.
The Bush tax cuts of 2001-2010 reduced
A. The marginal tax rate for the highest income class to 10 percent. B. Incentives for education. C. Vertical inequities. D. The top marginal tax rate from 39.6 percent to 35 percent.
Which of the following will discourage investment?
What will be an ideal response?