Multiple Choice
Which of the following is false?
A) A production possibilities curve represents the potential total output combinations of any two goods for an economy.
B) On a production possibilities curve, we assume that the economy has a given quantity and quality of resources and technology available to use for production.
C) If an economy is operating inside its production possibilities curve, it is not at full capacity, and is operating inefficiently.Such an economy's actual output is less than potential output.
D) By putting unemployed resources to work or by putting already employed resources to better uses, we could shift out the production possibilities curve.
Correct Answer:

Verified
Correct Answer:
Verified
Q12: High wage countries like the United States
Q13: Exhibit 3-15 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5768/.jpg" alt="Exhibit 3-15
Q14: Exhibit 3-3 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5768/.jpg" alt="Exhibit 3-3
Q15: Which of the following will not shift
Q16: The use of large amounts of labor
Q18: When economists speak of markets, they primarily
Q19: A devastating earthquake destroys ten percent of
Q20: A production possibilities curve will be concave
Q21: Exhibit 3-9 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5768/.jpg" alt="Exhibit 3-9
Q22: Which of the following would be likely