Multiple Choice
Zetaland produces widgets and gadgets. At current levels of output, it can produce more of both. We can conclude that
A) Zetaland is at full employment.
B) opportunity cost is maximized.
C) some resources are not being used.
D) the economy is on the production possibilities frontier.
Correct Answer:
Verified
Correct Answer:
Verified
Q8: (Figure: PPF of Econia (a small nation))
Q9: Industries at a comparative disadvantage may find
Q10: Comparative advantage arises because<br>A) all resources are
Q11: The government sets regulations to improve safety
Q12: Every point on a production possibilities frontier
Q14: Points inside (below and to the left
Q15: Increased illegal immigration into the United States
Q16: Capital, which includes all manufactured products that
Q17: Increasing opportunity costs occur along the production
Q18: A point on a nation's production possibilities