Which of the Following Most Accurately Summarizes the Implications of an Economy's

question 63

Multiple Choice

Which of the following most accurately summarizes the implications of an economy's production possibilities curve?

• A) If all the resources of an economy are being used efficiently, more of one good can be produced only if less of another good is produced.
• B) If all the resources of an economy are being used efficiently, it is generally possible to produce more of one good without having to sacrifice the production of other goods.
• C) Over time, it is generally impossible for a country to expand its production of goods.
• D) An economy will automatically move toward a point that lies outside of the production possibilities constraint unless proper government policy constrains production.

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Definitions:

Safety Glasses

Protective eyewear designed to safeguard the wearer's eyes from flying debris, particles, chemical splashes, or potentially harmful light rays.

Bar Code Tracking

A system for monitoring and managing inventory, shipments, or equipment by scanning bar codes to record and retrieve information quickly.

Inventory

Inventory refers to the goods and materials that a business holds for the ultimate goal of resale, production, or utilization in service delivery.

Corrosive

A substance capable of chemically attacking another.