-Refer to the Production Possibilities Frontier in the Figure Above

question 165

Multiple Choice

-Refer to the production possibilities frontier in the figure above. More of good X must be given up per unit of good Y gained when moving from point b to point a than when moving from point c to point b. This fact

• A) indicates that good Y is more capital intensive than good X.
• B) illustrates decreasing opportunity cost.
• C) illustrates increasing opportunity cost.
• D) indicates that good X is more capital intensive than good Y.

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Definitions:

Efficiency

The ability to accomplish a job with a minimum expenditure of time and resources.

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Fairness or justice in the way people are treated, including in the context of investments or distribution of resources.

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A protest movement that began in 2011, focusing on inequality, greed, and the perceived undue influence of corporations on government.