Use the Following to Answer Question(s)

question 190

Multiple Choice

Use the following to answer question(s) :
Exhibit: Production Possibilities Curve-Military and Civilian Goods

-(Exhibit: Production Possibilities Curve-Military and Civilian Goods) If an economy is at point U, and its production possibilities curve is Curve 1, this would indicate that:

• A) resources are fully employed.
• B) economic growth has taken place.
• C) there is inefficiency and/or unemployment.
• D) the economy is maximizing its economic objectives.

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Definitions:

Debit Memo

A document issued by a vendor to a customer, recording an increase in the amount a customer owes to the vendor due to various reasons like returned goods or underbilling.

Bank Service Charges

Fees charged by a bank to its customers for account maintenance, transactions, and other banking services.

Outstanding Checks

Checks that have been written and recorded in accounting books but have not yet been cashed or cleared by the bank.

Bank Statement

A summary of all transactions mailed to the depositor or made available online by the bank each month.