The production possibilities frontier is the
A) maximum output that can be produced at an opportunity cost of zero.
B) minimum output that can be produced when resources are used inefficiently.
C) boundary between the combinations of goods and services that can be produced and the combinations that cannot be produced, given the available factors of production and the state of technology.
D) boundary between the combinations of goods and services that can be produced and the combinations that cannot be produced when technology is changing.
E) maximum opportunity cost combinations of goods and services.
Question 2
The proven-reserves figure used in most years-to-depletion calculations encompasses oil reserves that are ________ and ________ to extract.
A) known; economical
B) both known and unknown; economical
C) known; both economical and uneconomical
D) both known and unknown; both economical and uneconomical
projections of future oil production
The Last Glacial Maximum
As the world’s population continues to grow, demands on limited resources for food production
British Output and Productivity Growth, 1760–1913
U.S. Output and Productivity Growth, 1870–2007
Production of prototrophs as a result of genetic recombination