Multiple Choice
Which statement describes the usefulness of the production possibilities frontier?
A) The production possibilities frontier demonstrates that, although resources are scarce for individuals, there is no problem of scarcity for society as a whole.
B) The production possibilities frontier is based on unrealistic assumptions and therefore has no value as an economic tool.
C) The production possibilities frontier is based on simplifying assumptions, but illustrates scarcity, opportunity cost, and economic growth.
D) The production possibilities frontier is based on the assumption that technology is constantly changing.
Correct Answer:

Verified
Correct Answer:
Verified
Q6: Which of the following best describes the
Q7: Which of the following can NOT be
Q8: Exhibit 2-1<br> <span class="ql-formula" data-value="\begin{array}
Q9: Which of the following is characteristic of
Q10: In the period of one week, Tetah
Q12: For each room she paints, Helen gives
Q13: Janis mows the lawn in 1 hour
Q14: Suppose there is an improvement in technology.Which
Q15: Exhibit 2-1<br> <span class="ql-formula" data-value="\begin{array}
Q16: Which of the following is most appropriately