A point on a production possibilities curve indicates
A) resources are not being used efficiently.
B) resources are being used efficiently.
C) opportunity costs are constant.
D) an output combination that can be attained only if society gets more resources or there is technological change.
Answer: B
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According to this Application, based on the analysis of the sources of growth in China and India, and assuming that nothing changes, it can be concluded that
A) there is convergence between the nations in Asia. B) China's reliance on technology for economic growth makes it less likely to keep pace with the growth rate in India. C) India's long-term growth prospects are not as strong those for China. D) the growth rate in China should significantly slow down in the near future, but the growth rate in India will continue to rapidly increase in the near and distant future.
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Indicate whether the statement is true or false