Scarcity Is Represented on a Production Possibilities Frontier Figure by

question 34

Multiple Choice

Scarcity is represented on a production possibilities frontier figure by

• A) the amount of the good on the horizontal axis forgone.
• B) the fact that there are only two goods in the diagram.
• C) technological progress.
• D) the fact there are attainable and unattainable points.

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Definitions:

Cash Dividend

A distribution of a portion of a company's earnings paid to its shareholders in the form of cash.

Foreign Subsidiary

A company located in another country that is directly controlled by another corporation.

Currency Exchange Rates

The value of one currency expressed in terms of another currency, used in global trade and finance to convert currencies for transactions.

Temporal Method

An accounting method used in translating foreign currency transactions and financial statements of foreign subsidiaries, using the exchange rates at the time the transactions occurred.