Which of the Following Is Not True About a Production

question 92

Multiple Choice

Which of the following is not true about a production possibilities curve? The curve:

• A) indicates the combinations of goods and services that can be produced with given
• Technology.
• B) indicates the efficient production points.
• C) indicates the non-efficient production points.
• D) indicates which production point will be chosen.

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Definitions:

Cooling-Off Period

A legally mandated time frame allowing parties to back out of financial agreements without penalty.

Truth-In-Lending Act

A U.S. federal law designed to protect consumers in their dealings with lenders and creditors, ensuring clear disclosure of loan terms and costs.

Cease-And-Desist Order

An administrative or judicial order prohibiting a person or business firm from conducting activities that an agency or court has deemed illegal.

Federal Trade Commission

An independent agency of the United States government, established to prevent unfair business practices and promote consumer protection.