Exhibit 2-7 -If the Economy Is on the Production Possibilities Frontier (PPF),the

question 27

Multiple Choice

Exhibit 2-7
-If the economy is on the production possibilities frontier (PPF) ,the economy is

• A)productive inefficient.
• B)operating with no unemployed resources.
• C)productive efficient.
• D)b and c
• E)none of the above

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Definitions:

Horizontal

Relating to or situated at the same level in a hierarchy, often implying equal status or the absence of a hierarchical structure.

Unitary

Pertaining to a single entity or element; uniform.

Creativity Process

The sequence of thoughts and actions that lead to the generation of new and original ideas, concepts, or solutions.

Steps

Sequential actions or procedures followed in order to achieve a specific goal or complete a process.