An Economy's Production Possibilities Frontier

question 71

Multiple Choice

An economy's production possibilities frontier:

• A)helps explain the immense complexity of the real economy.
• B)demonstrates that,although resources are scarce for individuals,there is no problem of scarcity for society as a whole.
• C)is based on unrealistic assumptions and therefore has no value as an economic tool.
• D)is based on simplifying assumptions,but is still useful for illustrating scarcity,opportunity cost,and economic growth.
• E)is based on the assumption that technology is constantly changing.

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Definitions:

Phrenic Nerve

A nerve that originates in the neck (C3-C5) and innervates the diaphragm, crucial for breathing.

Meninges

Protective membranes covering the brain and spinal cord.

Dura Mater

The outermost and toughest of the three membranes covering the brain and spinal cord.

Radial Nerve

A nerve that extends down the arm and is responsible for extending the wrist and fingers.