If an Economy Is Fully Utilizing Its Resources,it Can Produce

question 152

Multiple Choice

If an economy is fully utilizing its resources,it can produce more of one product only if it

• A) doubles manufacturing of the product.
• B) produces less of another product.
• C) adds more people to the labor force.
• D) reduces the prices of the most expensive products.

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Definitions:

Car Loan

A financial agreement in which a borrower receives money to purchase a car and agrees to repay the lender over time, typically with interest.

Total Interest

The sum of all interest payments made over the life of a loan or investment.

Compounded Quarterly

The process of calculating interest on both the initial principal and the accumulated interest from previous periods on a quarterly basis.

Amortization Period

The total length of time over which equal regular payments will repay a loan.