Use the Following to Answer Question

question 159

Multiple Choice

Use the following to answer question:

-(Figure: Strawberries and Submarines II) Use Figure: Strawberries and Submarines II.The downward slope of the production possibility frontier implies that resources:

• A)must be used efficiently.
• B)are scarce.
• C)should not be wasted.
• D)should be allocated so that approximately equal amounts of both goods are produced.

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Definitions:

Great Depression

A severe worldwide economic downturn that took place during the 1930s, marked by high unemployment and financial instability.

Transcontinental Railroads

Railroads that extend across a continent, linking coasts and facilitating trade and travel.

Agriculture

The practice of cultivating the soil, growing crops, and raising livestock to produce food and raw materials.

Bank Failures

Occurrences when banks are unable to meet their obligations to depositors or creditors and are closed by regulatory agencies.