When Drawing a Production Possibilities Frontier for Two Goods, All

question 199

Multiple Choice

When drawing a production possibilities frontier for two goods, all of the following are usually assumed, except for one. Which of the following is the exception?

• A) The quantity of resources is rapidly growing.
• B) Technology is fixed.
• C) Resources can be shifted from the production of one good to the other.
• D) The production possibilities frontier is drawn for a particular time period.
• E) Resources are fully and efficiently employed.

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Definitions:

Linux

An open-source operating system modelled on UNIX, known for its stability and security features.

Volatile Memory

Memory that requires power to maintain the stored information, losing all stored data when the system's power is turned off, like RAM.

Random Access Memory (RAM)

A type of computer memory that can be accessed randomly, used for storing operating data and machine code currently in use.

Read-Only Memory (ROM)

A type of non-volatile memory used in computers and electronic devices, storing data permanently and typically containing the system's firmware.