Solved

Figure 2-14 Consider the Production Possibilities Curve for a Country

Question 126

Multiple Choice

Figure 2-14 Figure 2-14 Consider the production possibilities curve for a country that can produce sweaters,apples (in bushels) ,or a combination of the two -Refer to Figure 2-14.If this society is producing at point T, A) there is unemployment. B) production is efficient. C) growth can only be achieved through an advancement in technology. D) the opportunity cost of producing one more sweater is approximately 40 bushels of apples. Consider the production possibilities curve for a country that can produce sweaters,apples (in bushels) ,or a combination of the two
-Refer to Figure 2-14.If this society is producing at point T,


A) there is unemployment.
B) production is efficient.
C) growth can only be achieved through an advancement in technology.
D) the opportunity cost of producing one more sweater is approximately 40 bushels of apples.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

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

Q123: Figure 2-7 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-7

Q124: Who said,"The whole of science is nothing

Q125: The use of theory and observation is

Q127: In building economic models,economists often omit<br>A)assumptions.<br>B)theories.<br>C)details.<br>D)equations.

Q128: Figure 2-8 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-8

Q129: Which of the following is an example

Q130: Indiadesh is a country that produces two

Q131: Sir Isaac Newton's development of the theory