The Following Economy Produces Two Products

question 45

Multiple Choice

The following economy produces two products. Given the production possibilities schedule above,a combination of three tanks and 350 autos:

• A) illustrates the trade-off between tanks and autos.
• B) is attainable but involves the unemployment or inefficient use of some of society's resources.
• C) cannot be produced by society,given its current level of resources and production technology.
• D) is not attainable because this combination is not listed in the schedule.

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Definitions:

False Invoices

Invoices that are issued to bill for goods or services that were not actually provided, often used in fraudulent schemes.

Ethical

Ethical pertains to moral principles that govern a person's behavior or the conducting of an activity.

Moral Code

A set of principles or ethics that govern the behavior of individuals or groups based on notions of right and wrong.