When Constructing a Production Possibilities Frontier,which of the Following Assumptions

question 59

Multiple Choice

When constructing a production possibilities frontier,which of the following assumptions is not made?

• A)The economy produces only two goods or two types of goods.
• B)Firms produce goods using factors of production.
• C)The technology available to firms is given.
• D)The quantities of the factors of production that are available are increasing over the relevant time period.

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Definitions:

Peak Flow

The maximum instantaneous discharge of a stream or river at a specific location and time.

Runoff

The flow of water that occurs when excess stormwater, meltwater, or other sources flows over the Earth's surface, often leading to erosion and transporting sediments.

Floodplain

Land that is level or almost level, located next to a river or stream, which undergoes infrequent or regular floods.

Meander

A winding curve or bend in a river, which occurs as the river erodes the landscape in sinuous patterns.