Following Is the Production Possibilities Schedule for an Economy Producing

question 36

Multiple Choice

Following is the production possibilities schedule for an economy producing two goods, Good A and Good B.Table 2.1

-If the resources within a nation are not being fully or efficiently utilized, it means:

• A)that the nation is operating at a point inside its production possibilities curve.
• B)that the nation is operating at a point outside its production possibilities curve.
• C)that the nation is operating at a point along its production possibilities curve.
• D)that the nation is probably technologically advanced.
• E)the government of that nation should seize ownership of the resources in order to attain the necessary efficiencies.

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Definitions:

Interest Allowances

The amount of interest income received or credited to an account, sometimes used in calculating adjusted income or benefits.