The difference between the economy's potential output and its actual output relative to its potential output at a point in time is called the:

Trade barriers are an expensive and grossly inefficient way to reach most of the goals for which they are used

Indicate whether the statement is true or false

The curve that represents all possible combinations of goods that can be produced is called

A) the production possibilities curve. B) the resource allocation curve. C) the efficiency curve. D) the supply curve.