For a Given Production Possibilities Frontier, Which Points Are Attainable

question 193

Multiple Choice

For a given production possibilities frontier, which points are attainable?

• A)points inside the frontier 
• B)points outside the frontier 
• C)points on or outside the frontier 
• D)points on the frontier only 
• E)points on or inside the frontier

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Definitions:

Quantity Supplied

The overall quantity of a product or service that suppliers are prepared to offer for sale at a certain price during a defined time frame.

Demand Increase

A rise in the quantity of a product or service that consumers are willing and able to purchase at a given price over a certain period of time.

Usury Laws

Regulations that impose a maximum interest rate that can be charged on loans to prevent excessive and unfair interest rates.

Interest

The cost of borrowing money, typically expressed as a percentage of the amount borrowed, or the income earned on deposited funds.