Following Is the Production Possibilities Schedule for an Economy Producing

question 24

Multiple Choice

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

-Which of the following conditions is true for a nation operating at a point lying inside its production possibilities curve?

• A)The nation is experiencing a technological breakthrough in one of its key industries.
• B)The nation is clearly utilizing its resources efficiently.
• C)The nation is producing the maximum output that can be produced with a limited quantity of resources.
• D)The nation is not utilizing its resources efficiently.
• E)The nation is producing the maximum output that can be produced with its unlimited quantity of resources.