If the production possibilities frontier is a straight line,
a. its slope will equal -1
b. resources must not be used efficiently
c. resources must be unemployed
d. society must not be using the latest technology
e. resources must be equally adaptable at producing either product
E
Economics
You might also like to view...
The economy is at full employment when all unemployment is ________
A. structural B. cyclical C. structural and cyclical D. structural and frictional
Economics
Distinguish between real and nominal GDP. Which one is a better measure of the business cycle?
What will be an ideal response?
Economics