A production possibilities curve shows:
A. that resources are unlimited.
B. that people prefer one of the goods more than the other.
C. the maximum amounts of two goods that can be produced, assuming the full use of
available resources.
D. combinations of capital and labor necessary to produce specific levels of output.
Answer: C
Economics
You might also like to view...
If the production of wheat were subsidized by government,
A) the demand for wheat would increase. B) the supply of wheat would increase. C) both A & B would occur. D) none of the above would occur.
Economics
If a nation’s productivity grows by 3% rather than 1.5% over many years, what will be the difference in the nation’s standard of living? Explain
Please provide the best answer for the statement.
Economics