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

question 114

Multiple Choice

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

-From the data in Table 2.1.1, the production of 10 units of X and 28 units of Y is

• A)unattainable.
• B)attainable but leaves some resources misallocated.
• C)on the production possibilities frontier between points C and D.
• D)inside the PPF.
• E)possible if we reduce the amount of capital goods.

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Definitions:

Relative Frequency

The ratio of the number of times a particular value or event occurs to the total number of occurrences, used to estimate probabilities in samples.

Hours Worked

The total number of hours spent working by an individual or group in a specific period.

Statistics Students

Individuals engaged in the study of statistics, which includes the collection, analysis, interpretation, and presentation of data.

Frequency Distribution

A summary of data that shows the number of occurrences of each value or category of a variable.