On a Production Possibilities Frontier (PPF)that Shows the Trade-Off Between

question 89

Multiple Choice

On a production possibilities frontier (PPF) that shows the trade-off between consumer goods and capital goods given a fixed amount of labor,unemployment is illustrated by

• A) movement from a point within the frontier to a point on the frontier.
• B) a point outside the frontier.
• C) a point within the frontier.
• D) movement from a point on the frontier to another point on the frontier.
• E) a point on the frontier.

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Definitions:

September 11 Attacks

A series of coordinated terrorist attacks by the Islamic terrorist group al-Qaeda against the United States on the morning of September 11, 2001.

Long-run Path

The trajectory of economic performance or growth when all factors of production can change and adapt.

Market Decline Curve

Graphical representation that shows the decrease in demand or value of a market or product over time.

Equilibrium Points

The state in a market where supply equals demand, and there is no incentive for price or quantity to change.