If a nation is currently operating at a point inside its production possibilities curve, it
A. is fully employing all of its resources.
B. is operating beyond its possible capacity.
C. is utilizing its resources efficiently.
D. none of the choices are true.
D. none of the choices are true.
You might also like to view...
Suppose Mexico's real GDP per person in 2008 is $6,000 and the U.S. real GDP per person is $24,000. Mexico has annual growth in real GDP per person of 5 percent
Approximately how many years will it take Mexico to equal $24,000 of real GDP per person? A) 14 years B) 18 years C) 28 years D) 36 years E) 40 years
A condition necessary for a country to achieve economic growth is
A) high tax rates so the government can purchase a lot of capital equipment. B) strict environmental regulations. C) economic freedom. D) government control of the banking system. E) democracy.