Use the Following to Answer Question(s): Production Possibilities Curve

question 49

Multiple Choice

Use the following to answer question(s) : Production Possibilities Curve

-(Exhibit: Production Possibilities Curve) Which of the following statements is true?

• A) Operation at Point E is possible, given the current factors of production.
• B) At point D, there must be efficiency and full employment since it is not necessary to use so many resources.
• C) Every point on the production possibilities curve is a full employment and efficient point of production.
• D) Point B is more efficient than either point A or point C.

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Definitions:

Maturity Date

The specified date on a financial instrument such as a bond or loan when the principal amount is due to be paid back in full.

Note Receivable

A financial asset representing a promise for future receipt of cash, often from loans or credit extended to others.

Factor

An element or condition that actively contributes to the production of a result, often used in the context of mathematics or economic analysis.

Accounts Receivable

The amount of money owed to a company by its customers for goods or services that have been delivered but not yet paid for.