On the Vertical Axis, the Production Possibilities Frontier Shows___________ ;

question 170

Multiple Choice

On the vertical axis, the production possibilities frontier shows___________ ; on the horizontal axis, the production possibilities frontier shows__________ .

• A) the quantity of a good; the price of the good
• B) the quantity of a good; a weighted average of resources used to produce the good
• C) the quantity of one good; the quantity of another good
• D) the quantity of a good; the number of workers employed to produce the good

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Definitions:

Welfare

Governmental support aimed at ensuring the health, safety, and well-being of the population, often including assistance programs for the economically disadvantaged.

Noncontributory Programs

Social welfare programs that provide benefits to eligible individuals without requiring contributions from them, typically funded by general tax revenues.

Disparities

Inequities or differences, often unfair, observed between different groups of people.

Grants-In-Aid

Financial assistance provided by the federal government to state or local governments for specific projects or programs.