Any combination of two goods that lies beyond the production possibilities frontier
A) is currently impossible to produce.
B) is currently possible to produce, but not worth trying.
C) represents economic waste.
D) represents a more efficient combination of output than anything lying on the frontier.
Question 2
An employee in a department store often steals goods when other employees are not around. Because the store does not have a surveillance camera, the store manager is unable to monitor his activities. This behavior is an example of ________.
A) adverse selection
B) moral hazard
C) internalization of externalities
D) the paradox of thrift
Spain’s North American Frontier, c. 1750
The production of electricity from coal is inefficient
World Crude Oil Production, 1900–2010
Draw an Edgeworth box for two consumers over two goods
Determination of the genotype of F2 plants by the production of F3 progeny
The production of a new allopolyploid species