Which One of the Following Concepts Is Not Illustrated by a Production

question 149

Multiple Choice

Which one of the following concepts is not illustrated by a production possibilities frontier?

• A)scarcity
• B)monetary exchange
• C)opportunity cost
• D)attainable and unattainable points
• E)the tradeoff between producing one good versus another

---

Definitions:

Demand For Pounds

The desire or need for a given amount of a commodity, such as currency or weight, by consumers or businesses.

Appreciate

To increase in value or price over time.

Fix Exchange Rate

A government or central bank policy of setting the exchange rate of a currency relative to other currencies.

Dollar-Yen Foreign Exchange

The exchange rate between the U.S. dollar and the Japanese yen, indicating how much yen can be exchanged for one U.S. dollar in the foreign exchange markets.