Which of the Following Statements Is True

question 13

Multiple Choice

Which of the following statements is true?

• A) In a world of efficiently used scarce resources,more of one good necessarily means less of some other good.
• B) The law of increasing opportunity costs assumes that all people have the same ability to produce goods.
• C) Efficiency implies that it is impossible to get more of one good without getting less of another.
• D) Even if a country has unemployed resources,it can still be operating on its production possibilities frontier (PPF).
• E) a and c

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Definitions:

Materially Altered

A change in a document or agreement that significantly affects its terms or conditions.

Holder In Due Course

A legal term for a person who has acquired a negotiable instrument in good faith and for value, and thus is protected against certain defenses and claims that could be raised against the original payee.

Payee

The party in a transaction who receives the payment.

Properly Delivered

Pertains to goods or documents being conveyed to the correct recipient in good condition and within the agreed timeframe.