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:

Main Clause

The part of a sentence that contains a subject and a verb and expresses a complete thought.

Subordinate Clauses

Clauses that cannot stand alone as a sentence because they do not express a complete thought.

Abstract Words

Words that represent concepts or ideas that cannot be directly perceived by the senses, such as "freedom" or "happiness."

Concrete Words

Words that refer to tangible, specific things rather than abstract concepts.