Which of the Following Is One of the Simplifying Assumptions

question 152

Multiple Choice

Which of the following is one of the simplifying assumptions made in constructing a production possibilities curve?

• A) The state of technology is constantly changing
• B) A wide variety of products are produced
• C) Resources are fully employed and are used in least-cost methods of production
• D) Quantities of available resources in the economy vary from one point to another

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Definitions:

Incomes

The money received, especially on a regular basis, for work or through investments.

Gender

The range of characteristics pertaining to, and differentiating between, masculinity and femininity, including societal roles, behaviors, and identities.

Biological Sex

The classification of living beings, typically as male or female, based on the reproductive organs and functions that derive from the chromosomal complement.

Gender Identity

An individual's personal sense of their own gender, which may or may not correspond with the sex assigned at birth.