When an economy is operating on its production possibilities curve, more production of one good means less production of another because:
a. resources are limited.
b. resources are not perfectly adaptable to alternative uses.
c. wants are limited.
d. wants are unlimited.
e. some resources are not employed.
a
Economics
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Which of the following are theories meant to explain "Why Price Levels are Lower in Poorer Countries"?
A) only Bhagwati-Kravis-Lipsey B) only Balassa-Samuelson C) only Goldberg-Knetter D) Bhagwati-Kravis-Lipsey and Balassa-Samuelson E) Bhagwati-Kravis-Lipsey and Goldberg-Knetter
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