Which of the Following Trade-Offs Does the Production Possibilities Frontier

question 117

Multiple Choice

Which of the following trade-offs does the production possibilities frontier illustrate?

• A)If an economy wants to increase efficiency in production,then it must sacrifice equality in consumption.
• B)Once an economy has reached the efficient points on its production possibilities frontier,the only way of getting more of one good is to get less of the other.
• C)For an economy to consume more of one good,it must stop consuming the other good entirely.
• D)For an economy to produce and consume goods,it must sacrifice environmental quality.

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Definitions:

Self-handicapping Strategy

A cognitive strategy where an individual deliberately impedes their own progress towards a goal in order to maintain self-esteem in the face of failure.

Self-esteem

The subjective evaluation of one's own worth or value, often affecting confidence and mental health.

Excuses

Justifications or reasons given to explain why something was done or not done, often to avoid blame or responsibility.

Actor-observer Effect

The tendency to attribute one's own actions to external factors while attributing others' actions to their personality or disposition.