Multiple Choice
A point lying inside the production possibilities boundary is one at which
A) more output could be produced with existing resources.
B) it is not possible to produce more output with existing resources.
C) the economy has run out of resources.
D) there is no scarcity.
E) the opportunity cost of producing more output is negative.
Correct Answer:
Verified
Correct Answer:
Verified
Q18: The Canadian economy is best described as<br>A)primarily
Q19: Consider the production possibilities boundary (PPB)of an
Q20: The Canadian economic system can best be
Q21: Comparison of economic systems indicates that<br>A)capitalist economies
Q22: If a country's production possibilities boundary is
Q24: Because resources are scarce, individuals are required
Q25: A move from inside the production possibilities
Q26: Most modern economies in the world today<br>A)are
Q27: A farmer selling tomatoes and corn at
Q28: Economics is generally NOT concerned with<br>A)restricting the