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30 Oct 2020

12. A nation consumes at a point outside its PPF

a. when it trades with other nations.

b. when it produces inefficiently.

c. when its PPF is bowed out.

d. never.

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Finding out the Tradeoff between Economic Output and Environment
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Raushan Raj
Raushan RajLv8
30 Oct 2020

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Related questions

Q. Why does a nation experience increasing opportunity cost?

a. As the nation moves from a production point within the PPF to one on the PPF, opportunity costs increase.

b. Because the nation cannot produce at the unattainable production points that lie beyond the PPF.

c. Resources are not equally productive in producing different kinds of goods and services.

d. When the amount of resources increases, the opportunity cost of all goods and services increases.

Country x has a high unemployment rate. it follows that country x is operating:

a. a beyond its production possibilities frontier (PPF)

b. On its PPF

c. Inside (below) its PPF

d. At a productive efficient point

Why is the shape of the production possibilities frontier (PPF) often curved instead of straight?

a) Because the PPF is based on the productive capabilities of a nation overall rather than the productive capacity of an individual.

b) Typically, some resources are better suited for producing one good than another, which means that there are diminishing returns when moving such resources away from producing what they are best suited for.

c) The productive efficiency of an economy decreases as it moves from left to right along the PPF.

d) To take a potential sunk cost into account, the PPF is curved to distribute the burden of the sunk cost based on allocative efficiency

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