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Combinations of goods outside the production possibilities curve.

a. They are attainable today if we employ all unemployed or underemployed resources. 

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

c. They imply that some resources such, as labor, are underemployed or underemployed. 

d. None of the answers is correct. 

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Alice Sejake
Alice SejakeLv10
6 Apr 2021

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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 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.

 

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 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 unchanged.

c. resources can vary; most resources experience times of unemployment and technology advances; particularly during wartime 

D. None of these answers are correct

 

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