Exhibit 2-13 Production Possibilities Curve in Exhibit 2-13, Point

question 141

Multiple Choice

Exhibit 2-13 Production possibilities curve In Exhibit 2-13, point D:

• A)is preferred to point A.
• B)is a point of maximum production for this economy this year.
• C)is not achievable this year because of limited resources.
• D)could result from some degree of unemployment of inefficiency.
• E)is preferred to point H.

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Definitions:

Subsidiary Ledger

A detailed ledger that contains all the transactions of a particular account, which then summarizes into a single general ledger account.

Accounts Receivable

Represents money owed to a business by its clients or customers for goods or services delivered but not yet paid for.

Financial Statement

A documented summary of financial transactions and standing for a company, person, or alternative entity.

Normal Balance

The usual balance side (debit or credit) on which an account increases.