« previous next »

Author Question: Why is a point below the production possibilities curve less efficient than a point on that curve? ... (Read 116 times)

schs14

  • Hero Member
  • *****
  • Posts: 569
on: Jun 29, 2018
Why is a point below the production possibilities curve less efficient than a point on that curve?
 
  What will be an ideal response?

Question 2

Of the following nations, the country with the highest saving rate is
 
  A) the United States.
  B) Japan.
  C) Mexico.
  D) Ethiopia.


BUTTHOL369

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 29, 2018
Answer to Question 1

A point on the production possibilities curve is efficient because it means the economy is producing the maximum outputs of goods and services with given resources and technology. By contrast, a point below the production possibility curve means that the use of the given resources is not generating the maximum possible outputs of goods and services. Thus, this point represents an inefficient combination of outputs produced with available resources and technology.

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

The rapid speed of cAMP production The rapid speed of cAMP production
Oil and Natural Gas Production from More Wells in Smaller Areas Oil and Natural Gas Production from More Wells in Smaller Areas
Three-point gait. Three-point gait.
The leaky-barrel model: a settling-point model of eating and body weight homeostasis. The leaky-barrel model: a settling-point model of eating and body weight homeostasis.
The Production of Cytotoxic T-lymphocytes (CTLs) The Production of Cytotoxic T-lymphocytes (CTLs)
The production of a new allopolyploid species The production of a new allopolyploid species
Video: Passive Smoke Exposure

For a complete list of videos, visit our video library