If Production Point Is Inside the Production Possibilities Frontier

question 268

Multiple Choice

If production point is inside the production possibilities frontier

• A) it is not possible to produce more of both goods.
• B) production is inefficient.
• C) in order to produce more of one good, less of the other must be produced.
• D) production is in the "unattainable" region.

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Definitions:

Discovery of Gold

The finding of gold deposits, often leading to gold rushes and mass migrations of people seeking wealth, significantly impacting local economies and societies.

Transcontinental Railroad

A continuous network of railway trackage that crosses a continental land mass with terminals at different oceans or continental borders.

Mexican War

A conflict between the United States and Mexico from 1846 to 1848, resulting in the U.S. acquisition of territories that include present-day California, Arizona, and New Mexico.