Author Question: Which of the following is not true about a production possibilities curve? The curve: a. indicates ... (Read 42 times)

tsand2 · **on:** Jun 30, 2018

Which of the following is not true about a production possibilities curve? The curve:
a. indicates the combinations of goods and services that can be produced with given technology.
b. indicates the efficient production points.
c. indicates the non-efficient production points.
d. indicates the feasible (attainable) and non-feasible production points.
e. indicates which production point will be chosen.

Question 2

If an economy is producing at full employment, it means that:
a. there are idle resources in this economy.
b. the production is not efficient.
c. the economy is producing along its production possibilities curve.
d. the economy is producing at a point that is to the left of the production possibilities curve.
e. the economy is producing at a point that is to the right of the production possibilities curve.