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Combinations of goods outside the production possibilities curve have which of the following characteristics? 

a) They are attainable today only if we employ all unemployed and underemployed resources. 

b) They are not attainable given our existing stock of resources and technology 

c) They imply that some resources such as labor are unemployed or underemployed 

d) None of the answers is correct

 

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Vaishnavi Kanukurti
Vaishnavi KanukurtiLv10
2 Nov 2020

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Related questions

A production possibilities curve is drawn based on which of the following assumptions?
a. Resources are fixed and fully employed, and technology advances at the rate of growth of the economy overall.
b. Resources such as nonrenewable resources will decline, but labor remains fully employed, and technology is unchanged.
c. Resources can vary, most resources experience times of unemployment, and technology advances, particularly during wartime.
d. Resources such as labor and capital will grow, are fully employed, and technology is unchanged.
e. None of the above answers is correct.

A production possibilities curve is drawn based on which of the following assumptions?


a. Resources are fixed and fully employed, and technology advances at the rate of growth of the economy overall.
b. Resources such as nonrenewable resources will decline, but labor remains fully employed, and technology is unchanged.
c. Resources can vary, most resources experience times of unemployment, and technology advances, particularly during wartime.
d. Resources such as labor and capital will grow, are fully employed, and technology is unchanged.
e. None of the above answers is correct.

A production possibilities curve is drawn based on which of the following assumptions?

A) Resources are fixed and fully employed, and technology advances at the rate of growth of the economy overall.

B) Resources such as non-renewable resources will decline, but labor remains fully employed and technology is unchanged.

C) Resources can vary; most resources experience times of unemployment; and technology advances, particularly during wartime.

D) Resources such as labor and capital will grow and are fully employed, and technology is unchanged.

E) None of the answers are correct.

 

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