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Ans) the correct option is d) the maximum amounts of two goods that can be produced assuming the full use of available resources
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Question 13 (3 points) A production possibilities curve shows: O combinations of capital and labor necessary...
Name: ID: A Exhibit 2-10 Production possibilities curve data Capital goods Consumption goods 23 19 13...
Name: ID: A Exhibit 2-10 Production possibilities curve data Capital goods Consumption goods 23 19 13 1 11. Suppose an economy is faced with the production possibilities table shown in Exhibit 2-10. As additional units of capital goods are being produced, the number of consumption goods produced must because increase; the production possibility table shows only the maximum efficiency points increase; of the law of increasing costs decrease; of the law of increasing costs decrease; of the finite nature of...
The production possibilities frontier shows A. the various products that can be produced now and in...
The production possibilities frontier shows A. the various products that can be produced now and in the future. B. what an equitable distribution of products among citizens would be. C. what people want firms to produce in a particular time period. D. the maximum attainable combinations of two products that may be produced in a particular time period with available resources
Question 8 Exhibit 2-13 Production possibilities curve Consumption goods Capital goods In Exhibit 2-13, the combination...
Question 8 Exhibit 2-13 Production possibilities curve Consumption goods Capital goods In Exhibit 2-13, the combination of goods given by point H could: never be achieved by this economy be achieved today if the economy achieved full employment be achieved today if the economy achieved maximum efficiency. not be achieved today. be achieved today with the proper allocation of resources, A Moving to another question will save this response.
I need help on number 12. Help Center Question Completion Status QUESTION 11 The production possibilities...
I need help on number 12.
Help Center Question Completion Status QUESTION 11 The production possibilities curve illustrates the basic principle that the production of more of any one good will in time require smaller and smaller sacrifices of other goods, if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced an economy will automatically obtain full employment of its resources. an economy's capacity to...
Assume an economy with only two commodities. The production possibilities curve of this economy shows: a....
Assume an economy with only two commodities. The production possibilities curve of this economy shows: a. all possible combinations of the two commodities that can be produced by utilizing all of the society's resources. b. all possible combinations of the two commodities that a given person can buy. c. all possible combinations of the two commodities that a given person wants. d. all possible combinations of the two goods that the society as a whole wants. e. none of the...
Production possibilities are the O Alternative combinations of output that can be produced using all available...
Production possibilities are the O Alternative combinations of output that can be produced using all available resources and technology O Various production methods that producers can employ O Various types of input that each manufacturing facility can choose to employ. O Percentage of output produced by each worker
QUESTION 13 If an economy is operating at a point below its production possibilities curve, then...
QUESTION 13 If an economy is operating at a point below its production possibilities curve, then it is experiencing labor shortages trying to produce outside of its production capabilities focusing too much on housing and not enough on food production not using all of its available resources QUESTION 14 The law of demand is graphically illustrated by a(n) upward-sloping demand curve perfectly vertical demand curve perfectly vertical supply curve downward-sloping demand curve QUESTION 15 mmediately before Valentines Day, people in...
Consider two points on the production possibilities frontier point X, at which there are 100 cars...
Consider two points on the production possibilities frontier point X, at which there are 100 cars and 78 trucks, an point Y, at which there are 90 cars and 70 trucks. If the economy is currently at point X the opportunity cost of moving to point Y is? a. 12 cars. b. I trucks. c. 10 cars. d. 79 trucks. e, none of the above. 12. The production possibilities frontier represents the possible combinations of two goods that an economy...
An economy produces two goods: capital goods and consumer goods. Points on the production possibilities curve...
An economy produces two goods: capital goods and consumer goods. Points on the production possibilities curve appear below: 2. roduction alternatives Capital ds per period Consumer goods per period 2018 14 8 A. If the economy is producing at alternative X, the opportunity cost of producing at Y instead of X is period a. 0 C. The production of 14 units of consumer goo and 1 unit of capital goods per period would a. result in full employment b. result...
An economy's production possibilities curve could shift outward as a result of a(n) a) increase in...
An economy's production possibilities curve could shift outward as a result of a(n) a) increase in labor and capital b) reduction in the quantity of capital goods c) decrease in the production of goods or d) decrease in the amount of available resources?
Name: ID: A Exhibit 2-10 Production possibilities curve data Capital goods Consumption goods 23 19 13 1 11. Suppose an economy is faced with the production possibilities table shown in Exhibit 2-10. As additional units of capital goods are being produced, the number of consumption goods produced must because increase; the production possibility table shows only the maximum efficiency points increase; of the law of increasing costs decrease; of the law of increasing costs decrease; of the finite nature of...
Question 8 Exhibit 2-13 Production possibilities curve Consumption goods Capital goods In Exhibit 2-13, the combination of goods given by point H could: never be achieved by this economy be achieved today if the economy achieved full employment be achieved today if the economy achieved maximum efficiency. not be achieved today. be achieved today with the proper allocation of resources, A Moving to another question will save this response.
I need help on number 12.
Help Center Question Completion Status QUESTION 11 The production possibilities curve illustrates the basic principle that the production of more of any one good will in time require smaller and smaller sacrifices of other goods, if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced an economy will automatically obtain full employment of its resources. an economy's capacity to...
Production possibilities are the O Alternative combinations of output that can be produced using all available resources and technology O Various production methods that producers can employ O Various types of input that each manufacturing facility can choose to employ. O Percentage of output produced by each worker
QUESTION 13 If an economy is operating at a point below its production possibilities curve, then it is experiencing labor shortages trying to produce outside of its production capabilities focusing too much on housing and not enough on food production not using all of its available resources QUESTION 14 The law of demand is graphically illustrated by a(n) upward-sloping demand curve perfectly vertical demand curve perfectly vertical supply curve downward-sloping demand curve QUESTION 15 mmediately before Valentines Day, people in...
Consider two points on the production possibilities frontier point X, at which there are 100 cars and 78 trucks, an point Y, at which there are 90 cars and 70 trucks. If the economy is currently at point X the opportunity cost of moving to point Y is? a. 12 cars. b. I trucks. c. 10 cars. d. 79 trucks. e, none of the above. 12. The production possibilities frontier represents the possible combinations of two goods that an economy...
An economy produces two goods: capital goods and consumer goods. Points on the production possibilities curve appear below: 2. roduction alternatives Capital ds per period Consumer goods per period 2018 14 8 A. If the economy is producing at alternative X, the opportunity cost of producing at Y instead of X is period a. 0 C. The production of 14 units of consumer goo and 1 unit of capital goods per period would a. result in full employment b. result...
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