-The Table Above Shows a Production Possibilities Frontier for an Economy.If

question 48

Multiple Choice

-The table above shows a production possibilities frontier for an economy.If the economy tried to produce a combination of 250 loaves of bread and 800 books,

• A) there is some unemployment.
• B) there is full employment.
• C) the tradeoff between bread and books is inefficient.
• D) it cannot produce this combination because it lacks enough resources or technology.
• E) it is enjoying a free lunch.

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Definitions:

Exponentiation

A mathematical operation involving two numbers, the base and the exponent, where the base is raised to the power of the exponent.

Division

A method of mathematical operation involving the process of dividing one number by another to determine how many times the divisor fits into the dividend.

Evaluate

The process of assessing or determining the significance, worth, or condition of something, typically by careful appraisal and study.

Fraction

A mathematical expression representing the division of one quantity by another, indicating parts of a whole.