Suppose the Production Possibilities Frontier (PPF) of an Economy Has

question 73

Multiple Choice

Suppose the production possibilities frontier (PPF) of an economy has been plotted on a graph. If the horizontal axis of the graph measures the output of capital goods and the vertical axis measures the output of consumer goods, then a point inside the PPF represents _____

• A) a larger quantity of capital goods than that represented by a point along the PPF.
• B) an inefficient output combination of the two goods in the economy.
• C) an unattainable output combination of the two goods in the economy.
• D) an output combination of more consumer goods than capital goods.
• E) a larger quantity of consumer goods than that represented by a point along the PPF.

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Definitions:

Delphi Method

A structured communication technique that uses a panel of experts who anonymously answer questionnaires and provide feedback in multiple rounds to converge on a consensus on a specific issue.

Brainstorming

A technique for collective creativity aimed at producing numerous ideas to solve a problem.

Brainstorming

A creative group problem-solving technique that involves generating a large number of ideas to find a solution to a particular issue.

Esprit De Corps

A feeling of pride, fellowship, and common loyalty shared by the members of a particular group.