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An economy’s production possibilities frontier is also its consumption possibilities frontier:

a. under all circumstances.

b. under no circumstances. 

c. when the economy is self-sufficient.

d. when the rate of trade-off between two goods being produced is constant.

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Alice Sejake
Alice SejakeLv10
7 Oct 2020

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Related questions

7. During the nineteenth and early twentieth centuries, thousands of people immigrated to Western Canada. The effect on the Canadian economy was to a. move it beyond its production possibilities frontier. b. move it inside its production possibilities frontier c. shift its production possibilities frontier inside. d. shift its production possibilities frontier outward. e. none of the above - there was no change in Canada's production possibilities frontier.

A production possibilities frontier is bowed outward when

a. the more resources the economy uses to produce one good, the fewer resources it has available to produce the other good.
b. an economy is self-sufficient instead of interdependent and engaged in trade.
c. the rate of a tradeoff between the two goods being produced is constant.
d. the rate of a tradeoff between the two goods being produced depends on how much of each good is being produced.

Which of the following is a correct statement about production possibilities frontiers?

a) An economy can produce only on the production possibilities frontier.

b) An economy can produce at any point inside or outside a production possibilities frontier.

c) An economy can produce at any point on or inside the production possibilities frontier, but not outside the frontier.

d) An economy can produce at any point inside the production possibilities frontier, but not on or outside the frontier.

 

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