Multiple Choice
Which of the following is an assumption used in deriving a production possibilities curve?
A) Poverty always exists in society.
B) The wages in an industry increase constantly.
C) Prices will continue to increase.
D) The amount of resources is fixed.
Correct Answer:
Verified
Correct Answer:
Verified
Q263: The division of productive activities among persons
Q264: A point outside a production possibilities curve
Q265: The opportunity cost of going to college
Q266: Which of the following would NOT allow
Q267: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -In the above
Q269: Which of the following is NOT an
Q270: A graphical representation which shows the trade-off
Q271: In the above figure, the opportunity cost
Q272: Why do most people choose to specialize
Q273: Using productive resources to make capital goods