Multiple Choice
The production possibilities curve is:
A) a graph that shows the combinations of output which are most profitable to produce.
B) a graph that shows the various combinations of output it is possible for an economy to produce given its available resources and technology.
C) a graph that shows the various combinations of resources that can be used to produce a given level of output.
D) a curve that shows the quantity of output that will be offered for sale at various prices.
Correct Answer:

Verified
Correct Answer:
Verified
Q155: Since resources are not equally substitutable across
Q156: If the production possibilities curve is a
Q157: Exhibit 3-5 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5768/.jpg" alt="Exhibit 3-5
Q158: An increase in the unemployment rate from
Q159: Which of the following is an incorrect
Q161: An economy's production possibility curve will be
Q162: A decrease in the unemployment rate from
Q163: Exhibit 3-13 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5768/.jpg" alt="Exhibit 3-13
Q164: Which of the following concepts are illustrated
Q165: A decrease in the unemployment rate will