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A year ago
Along a production possibilities curve showing capital and consumption goods production, which of the following pairs are being held fixed?
 a. Unemployment and capital goods production.
  b. Number of resources and consumption goods production.
  c. Composition of the economy's output and number of resources.
  d. Capital and consumption goods production.
  e. Technology and number of resources.

QUESTION 2

The law of increasing opportunity costs causes the production possibilities curve to:
 a. be a straight line. b. slope upwards.
  c. have a bowed-out shape. d. shift inward.

QUESTION 3

If society leaves some of its resources unemployed, then it will be operating at a point:
 a. beneath its production possibilities curve.
  b. at a corner of its production possibilities curve.
  c. anywhere along its production possibilities curve.
  d. outside of its production possibilities curve.

QUESTION 4

As production of a good increases, opportunity costs rise because:
 a. there will be more inefficiency. b. people always prefer having more goods.
  c. of inflationary pressures. d. workers are not equally suited to all tasks.

QUESTION 5

All points on the production possibilities curve are:
 a. unattainable. b. fair.
  c. efficient. d. optimal.
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wrote...
Posts: 415
Rep: 0 0
A year ago
[Answer to ques. #1]  e

[Answer to ques. #2]  c

[Answer to ques. #3]  a

[Answer to ques. #4]  d

[Answer to ques. #5]  c
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wrote...
A year ago
I can't even begin to explain how much your help meant to me!
Bo
wrote...
A year ago
Happy to hear that, good luck with the rest of them
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