A production point beyond the production possibilities frontier represents what?
What will be an ideal response?
A production point beyond the production possibilities frontier is an unattainable combination of goods and services.
Economics
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Jenn is willing to pay $75 for a purse and the purse's price is $60. What is Jenn's consumer surplus?
What will be an ideal response?
Economics
If the nominal interest rate is 2.9 percent and the rate of inflation is 0.6 percent in a given year, then what is the corresponding real rate of return?
A) 3.5 percent B) 2.3 percent C) -3.5 percent D) None of the above.
Economics