Which of the following is true of the production possibilities curve?
a. It assumes a fixed level of technology. b. It assumes resources are fixed.
c. It assumes resources are fully employed. d. All of these are correct.
Question 2
Which of the following most accurately indicates the implications of an economy's production possibilities curve?
a. If all the resources of an economy are being used efficiently, more of one good can be produced only if less of another good is produced.
b. If all the resources of an economy are being used efficiently, it is generally possible to produce more of one good without having to sacrifice the production of other goods.
c. Over time, it is generally impossible for a country to expand its production of goods.
d. An economy will automatically move toward a point that lies outside of the production possibilities constraint unless proper government policy constrains production.
Frequency distribution curve: interpatient variability in drug response
The oxygen isotope curve illustrates the ratio between 16O and 18O.
The age-dependent curve of salivary progresterone levels in three populations.
The level of emissions from transport in the United States is twice as high as the global average
The Kuznets Curve
A Production Function with Diminishing Marginal Product of Capital