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Consider a Country That Produces Only Two Goods: Bird Feeders

question 138

True/False

Consider a country that produces only two goods: bird feeders and binoculars.Suppose it is possible for this country to increase its production of bird feeders without producing fewer binoculars.In this case,its current output combination is inefficient.


Definitions:

Low

Refers to a position, level, or figure that is less than average or normal; often associated with quantity, quality, or degree.

Nonreactive

Describes a substance or material that does not chemically react under a set of given conditions.

Reactive

describes a response or behavior that is made in reaction to a stimulus or situation, rather than initiating action independently.

Ultimate Attribution Error

A cognitive bias where positive behaviors from one's in-group are attributed to their character, while negative behaviors are dismissed as situational, and the opposite is applied to out-groups.

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