Author Question: If the production possibilities curve is a downward-sloping straight line, that would indicate a. ... (Read 120 times)

Wadzanai · **on:** Jul 1, 2018

If the production possibilities curve is a downward-sloping straight line, that would indicate
a. that society cannot decide which good it prefers
b. an absence of scarcity
c. constant opportunity cost
d. inefficiency
e. specialization

Question 2

The concave shape of a production possibilities frontier showing possible output levels of good A and good B indicates that if the economy produces more and more of good B,
a. larger and larger amounts of good A must be sacrificed
b. smaller and smaller amounts of good A must be sacrificed
c. more of good A will be produced
d. the amount of resources available in the economy must be increased
e. there must be an improvement in technology