When a Nation Is Producing on Its Production Possibilities Frontier

question 52

Multiple Choice

When a nation is producing on its production possibilities frontier, if more resources are used to produce one good, then the production of other goods

• A) must decrease.
• B) must increase.
• C) might increase if the nation can produce more efficiently.
• D) must remain the same.
• E) must change, but it might increase or decrease.

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Definitions:

Point Estimate

A single value given as an estimate of a population parameter derived from a sample.

Simple Random Samples

A subset of individuals chosen from a larger set such that every individual has an equal chance of being selected.

Random Samples

Samples chosen from a larger set or population where each individual or event has an equal chance of being selected.

Population

The total set of observations or data that can be collected or referenced in a statistical analysis.