Multiple Choice
A Production Possibilities Frontier (curve) represents:
A) how much wheat can be produced in the US in a given year
B) all combinations of two outputs that can be produced with a varying level of inputs
C) all combinations of two inputs that can be used in the production of outputs
D) all combinations of two outputs that can be produced with a fixed level of resources
Correct Answer:
Verified
Correct Answer:
Verified
Q51: Movements along a Production Possibilities Frontier (curve)
Q52: The PPF is:<br>A) concave to the origin<br>B)
Q53: The Production Possibilities Frontier (curve) represents all
Q54: The opportunity cost of a resource tells
Q55: If all resources are used to produce
Q56: The MRPS is:<br>A) the rate at that
Q57: Technological change will affect the:<br>A) PPF<br>B) isorevenue
Q58: Technological change in the good located on
Q60: The Marginal Rate of Product Substitution (MRPS)
Q61: Productive efficiency is found:<br>A) on PPF<br>B) on