Table 2.1.1 The Following Table Gives Points on the Production Possibilities Frontier

question 114

Multiple Choice

Table 2.1.1
The following table gives points on the production possibilities frontier for goods X and Y.

-From the data in Table 2.1.1, the production of 10 units of X and 28 units of Y is

• A)unattainable.
• B)attainable but leaves some resources misallocated.
• C)on the production possibilities frontier between points C and D.
• D)inside the PPF.
• E)possible if we reduce the amount of capital goods.

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Definitions:

N Th

Pertaining to an unspecified member of a sequence or series, representing a general or particular position.

Geometric Sequence

A series of numbers in which each subsequent term is derived by multiplying the term before it by a constant, non-zero figure referred to as the ratio.

Population

In statistics, population refers to the entire group of individuals or items that a study intends to investigate or draw conclusions from.

Rate

A ratio that measures how one quantity changes in relation to another.