Of all the points on the production possibilities curve, only one point represents an efficient ...

Of all the points on the production possibilities curve, only one point represents an efficient point.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 2

If some resources were used inefficiently, the economy would operate outside its production possibilities curve.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 3

Each and every point along a production possibilities curve represents an efficient output option for an economy.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 4

If some resources went to waste rather to use in production, the economy would operate outside its production possibility curve.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 5

If more of one good can be produced without producing less of another output, the economy must have been operating efficiently.
 a. True
  b. False
  Indicate whether the statement is true or false