On a Straight-Line Production Possibilities Frontier, Which of the Following

question 102

Multiple Choice

On a straight-line production possibilities frontier, which of the following is true?

• A)The problem of scarcity does not exist.
• B)Resources are imperfect substitutes.
• C)Opportunity costs are constant.
• D)Technology is rapidly expanding.
• E)Some resources are not being used efficiently.

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Definitions:

Fossils

The preserved remains or traces of animals, plants, and other organisms from the remote past.

Hypothetical Syllogism

A logical argument composed of three categorical propositions, two premises followed by a conclusion, where if the first proposition (if A, then B) and the second proposition (if B, then C) are true, then the conclusion (if A, then C) necessarily follows.

Modus Ponens

A form of deductive reasoning where, from premises in the form "If P, then Q" and "P", one concludes "Q".

Modus Tollens

A logical argument form that infers the denial of an antecedent from the denial of the consequent in a conditional statement.