Consider a production possibility frontier with books and tables. ...

[Kikoku]

Consider a production possibility frontier with books and tables. A combination of 1000 books and 500 tables is on the frontier. Which of the following are true?
 
  i. Production of 700 books and 400 tables is attainable but inefficient.
  ii. Production of 1000 books and 600 tables is unattainable.
  iii. Production of 500 books and 1000 tables is inside the frontier.
  A) i, ii and iii B) i only C) i and iii D) ii and iii E) i and ii

Question 2

In the business cycle, what immediately precedes the time when real GDP is falling?
 
  A) depression B) peak C) recession D) expansion E) trough

[stallen]

Answer to Question 1

E

Answer to Question 2

B

[Kikoku]

Thanks for the timely response, appreciate it

[Joy Chen]

TYSM