When an Economy Is Operating Efficiently,the Production of One More

question 141

Multiple Choice

When an economy is operating efficiently,the production of one more unit of a good will result in the production of less of another good because:

• A) technology can only improve the production of one good.
• B) the PPF shifts inward as more of only one good is produced.
• C) resources are limited and efficiency implies that all resources are already in use.
• D) consumers will not want more of both goods.

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Definitions:

Reconstruction

The period after the American Civil War (1865–1877) during which the United States attempted to reintegrate the Confederate states back into the Union and rebuild the South.

Amnesty

A governmental act of forgiveness for individuals or groups who have committed a political offense, often after a conflict or under a new regime.

Attrition Strategy

is a military strategy aiming to gradually wear down the enemy by continuous losses in personnel and material until they are no longer capable of fighting.

Union's Manpower

Refers to the total number of soldiers, workers, and other personnel available to the Union (the Northern states) during the American Civil War for military and labor purposes.