The Slope of a Typical Production Possibilities Frontier Reflects the Fact

question 164

Multiple Choice

The slope of a typical production possibilities frontier reflects the fact that

• A)some systems of market organization are more efficient than others.
• B)the invisible hand always functions smoothly in a market system without government intervention.
• C)when resources are allocated efficiently, it's impossible to produce more of anything without producing less of something else.
• D)production is only possible when resources are allocated efficiently.

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Definitions:

Charles Sumner

An American politician and senator from Massachusetts, known for his deep commitment to the cause of civil rights and abolition of slavery.

Preston Brooks

A 19th-century American politician known for assaulting abolitionist Senator Charles Sumner in the Senate chamber, which intensified tensions leading up to the Civil War.

Lecompton Constitution

A proposed Kansas State Constitution, drafted in 1857, which would have allowed slavery in the state. It was contested and eventually rejected due to widespread opposition to its pro-slavery stance.

Republican Party

One of the two major contemporary political parties in the United States, commonly associated with conservative ideologies, favoring smaller government, lower taxes, and a strong national defense.