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Author Question: Consider a production possibility frontier with books and tables. A combination of 1000 books and ... (Read 114 times)

Kikoku

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on: Jun 29, 2018
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


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stallen

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Reply #1 on: Jun 29, 2018
Answer to Question 1

E

Answer to Question 2

B


Kikoku

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

ryhom

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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