Use the Following to Answer Question

question 32

Multiple Choice

Use the following to answer question:

-(Figure: Strawberries and Submarines) Use Figure: Strawberries and Submarines.Suppose the economy now operates at point C.Moving to point E would require that the economy:

• A)achieve full employment and an efficient allocation of resources.
• B)eliminate its production of strawberries.
• C)reduce its production of submarines.
• D)improve its technology or increase its quantities of factors of production.

---

Definitions:

Journal

An official financial record in which transactions are recorded in chronological order before they are transferred to accounts in the general ledger.

Ledger Accounts

Records that reflect the financial transactions of a company, organized within a book or a computerized accounting system.

Bank Loan Payable

Bank loan payable is a liability account that reflects the amount of money borrowed from a bank by a company or individual that is yet to be repaid.