Table 2.1.1 The Following Table Gives Points on the Production Possibilities Frontier

question 130

Multiple Choice

Table 2.1.1
The following table gives points on the production possibilities frontier for goods X and Y.

-The diagram of the production possibilities frontier corresponding to the data in Table 2.1.1 would be

• A)negatively sloped and linear.
• B)negatively sloped and bowed inward.
• C)negatively sloped and bowed outward.
• D)positively sloped for X and negatively sloped for Y.
• E)a horizontal line.

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Definitions:

Common Sense

The basic level of practical knowledge and judgment that is shared by a large number of people; the ability to make sound decisions on everyday matters.

Logic of Science

The principles and criteria for valid reasoning and argument within scientific disciplines, including the methods for empirical verification and hypothesis testing.

Sensible Conclusions

Logical or reasonable conclusions derived from available evidence and sound reasoning.

Control Condition

The standard conditions under which an experiment is conducted, against which experimental observations are evaluated.