Refer to the above figure. How do you describe what is happening as the economy moves from point C to point B?
A. The economy has increased its wool production by 30 bales at an opportunity cost of 250 loaves of bread.
B. Previously unemployed resources are now being devoted to the production of wool.
C. Previously unemployed resources are now being devoted to the production of bread.
D. The economy has acquired new resources for making bread.
Answer: B
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From Elizabeth I to George III, England strongly influenced the institutional structure of colonial America. This influence is realized today on which of the following fronts?
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