If All Resources Are Used Efficiently to Produce Goods and Services

question 1

Multiple Choice

If all resources are used efficiently to produce goods and services, where on the production possibilities frontier will a nation will find itself producing?  

• A) inside its production possibilities frontier 
• B) somewhere on its production possibilities frontier 
• C) outside of its production possibilities frontier 
• D) at two points on its production possibilities frontier

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Definitions:

Radical

An expression that includes a square root, cube root, or any higher root.

Square Root

The value that, when multiplied by itself, gives the original number; it's represented by the radical symbol √.

Evaluate

To find out the value associated with an expression.

Round

To approximate a numerical value to a specified degree of accuracy, often to the nearest whole number or decimal place.