A Certain Production Possibilities Frontier Shows Production Possibilities for Two

question 38

Multiple Choice

A certain production possibilities frontier shows production possibilities for two goods,jewelry and clothing.Which of the following concepts cannot be illustrated by this model?

• A)the flow of dollars between sellers of jewelry and clothing and buyers of jewelry and clothing
• B)the tradeoff between production of jewelry and production of clothing
• C)the opportunity cost of clothing in terms of jewelry
• D)the effect of economic growth on production possibilities involving jewelry and clothing

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Definitions:

Bloom's Taxonomy

A classification system used in education to define and distinguish different levels of human cognition - i.e., thinking, learning, and understanding.

Evaluate

The process of assessing or judging the value, nature, or importance of something.

Bloom's Taxonomy

A classification system used to define and distinguish different levels of human cognition—i.e., thinking, learning, and understanding.

Basic Needs

Fundamental requirements for human survival and well-being, including food, water, shelter, and safety.