If an Economy Is Producing a Combination of Goods That

question 77

Multiple Choice

If an economy is producing a combination of goods that places it on the production possibilities curve, then it has:

• A) economic growth.
• B) full employment.
• C) inefficiency.
• D) idle factors of production.

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Definitions:

Circumscribed

Limited or confined within boundaries.

Genetic Makeup

The unique set of genes that an individual inherits from both parents, determining various biological traits and predispositions.

Physical Decline

The gradual reduction in the strength, flexibility, and endurance of the body as a part of the aging process.

Inevitable

Something that is certain to happen; unable to be avoided or escaped.