Multiple Choice
The production possibilities frontier is a graph showing the
A) minimum combinations of goods and services that can be produced.
B) maximum combinations of goods and services that can be produced.
C) tradeoff between free lunches.
D) exact point of greatest efficiency for producing goods and services.
E) resources available for the economy's production use.
Correct Answer:
Verified
Correct Answer:
Verified
Q68: Gains from trade<br>A)occur when people do not
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Q70: Specialisation and trade<br>A)shift the production possibilities frontier
Q71: If the production possibilities frontier between bottled
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Q74: Comparative advantage is directly related to which
Q75: Points inside the PPF are all<br>A)attainable and
Q76: The opportunity cost of producing more of
Q77: A country has a comparative advantage in
Q78: The production possibilities frontier is the<br>A)boundary between