Multiple Choice
A country's production possibilities boundary shows that
A) when a society combines its resources efficiently, it cannot produce more of one good without producing less of the other good.
B) the supply for goods always exceeds the demand.
C) when a society combines its resources inefficiently, it cannot produce more of one good without producing less of the other good.
D) when a society combines its resources efficiently, it is always possible to produce more of all goods.
E) all points inside the boundary are preferred to all points on the boundary.
Correct Answer:

Verified
Correct Answer:
Verified
Q62: The use of money for transactions<br>A)makes specialization
Q63: Katie and Hugh are producing pies and
Q64: Specialization of labour led to greater efficiency
Q65: One of the "real" flows in the
Q66: One of the major results of the
Q68: Labour services are bought and sold in
Q69: Suppose there are three alternatives to attending
Q70: In mixed economies, economic behaviour is<br>A)based primarily
Q71: The famous economist who developed the idea
Q72: Consider the following list: a worker with