Multiple Choice
Which of the following trade-offs does the production possibilities frontier illustrate?
A) If an economy wants to increase efficiency in production,then it must sacrifice equality in consumption.
B) Once an economy has reached the efficient points on its production possibilities frontier,the only way of getting more of one good is to get less of the other.
C) For an economy to consume more of one good,it must stop consuming the other good entirely.
D) For an economy to produce and consume goods,it must sacrifice environmental quality.
Correct Answer:

Verified
Correct Answer:
Verified
Q112: Figure 2-1 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-1
Q113: In the circular-flow diagram,<br>A)firms own the factors
Q114: Figure 2-14 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-14
Q115: The bowed shape of the production possibilities
Q116: Home is a country that produces two
Q118: Refer to Figure 2-13.Which of the following
Q119: Which of these terms are used interchangeably?<br>A)"goods
Q120: Figure 2-7 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-7
Q121: Figure 2-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-2
Q122: In the circular-flow diagram,firms produce<br>A)goods and services