Which of the Following Is an Assumption Used When Drawing

question 218

Multiple Choice

Which of the following is an assumption used when drawing a production possibilities frontier?
i.Human wants and desires are limited to what is available.
ii.Only two goods are considered.
iii.The level of technology is fixed and unchanging.

• A) i only
• B) ii only
• C) i and iii
• D) ii and iii
• E) i, ii, and iii

Differentiate between nominal and real variables and their significance in economic analysis.

Recognize the long-run determinants of the price level and inflation rate.

Understand the concept of contraceptive methods and their respective failure rates.

Recognize the psychological and physiological factors affecting sexual activity and desire.