This topic contains a solution. Click here to go to the answer

Author Question: Which of the following is false? a. A production possibilities curve represents the potential total ... (Read 170 times)

kaid0807

  • Hero Member
  • *****
  • Posts: 515
Which of the following is false?
 a. A production possibilities curve represents the potential total output combinations of any two goods for an economy.
  b. On a production possibilities curve, we assume that the economy has a given quantity and quality of resources and technology available to use for production.
  c. If an economy is operating inside its production possibilities curve, it is not at full capacity, and is operating inefficiently. Such an economy's actual output is less than potential output.
  d. By putting unemployed resources to work or by putting already employed resources to better uses, we could shift out the production possibilities curve.

Question 2

An increase in investment combined with a decrease in education would have an indeterminate effect on both short run and long run aggregate supply.
 a. True
  b. False
  Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kalskdjl1212

  • Sr. Member
  • ****
  • Posts: 353
Answer to Question 1

d

Answer to Question 2

True





 

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

For a complete list of videos, visit our video library