Suppose That an Economy Is Operating Inside Its Production Possibilities

question 55

Multiple Choice

Suppose that an economy is operating inside its production possibilities frontier.Which statement best describes what is happening in this economy?  

• A) Some of the nation's resources are unemployed. 
• B) The production decisions are made by the government. 
• C) Unlimited resources must satisfy scarce desires. 
• D) Human resources are scarce relative to human wants, therefore society must have some mechanism for making choices.

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