Multiple Choice
The fact that individual productive resources are NOT equally useful in all activities
A) implies that a production possibilities frontier will be bowed outward.
B) implies that gain from specialization and trade is unlikely.
C) follows from the law of demand.
D) implies a linear production possibilities frontier.
Correct Answer:

Verified
Correct Answer:
Verified
Q201: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In the production
Q202: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The figure above
Q203: Which of the following is TRUE regarding
Q204: A point inside a production possibilities frontier<br>A)
Q205: What factors generate economic growth?
Q207: The fact of increasing opportunity costs means
Q208: Allocative efficiency occurs when it is<br>A) possible
Q209: A country that has an absolute advantage
Q210: A bowed outward production possibilities frontier occurs
Q211: Any point on a production possibilities frontier