Figure 2-14 Consider the Production Possibilities Curve for a Country

question 126

Multiple Choice

Figure 2-14 Consider the production possibilities curve for a country that can produce sweaters,apples (in bushels) ,or a combination of the two
-Refer to Figure 2-14.If this society is producing at point T,

• A)there is unemployment.
• B)production is efficient.
• C)growth can only be achieved through an advancement in technology.
• D)the opportunity cost of producing one more sweater is approximately 40 bushels of apples.

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Definitions:

Planned Behavior

A theory that suggests human action is guided by behavioral intentions, which are influenced by attitudes, subjective norms, and perceived control.

Illegal Downloading

The act of obtaining files, such as music, movies, or software, from the internet without proper authorization or payment.

Intervention

The act of intervening in a situation or process to improve outcomes or prevent undesirable consequences.

Cognitive Dissonance

The discomfort experienced when holding two or more conflicting cognitions (ideas, beliefs, values, emotional reactions).