Log in
Economics
2
answers
0
watching
16
views
29 Nov 2019

Production is inefficient

A. Only when an economy is producing inside its production possibility frontier (PPF).

B. Only when an economy is producing at the origin (0,0) on the PPF.

C. Production is never inefficient

D. Only when the economy is producing outside the PPF

Watch
2
answers
0
watching
16
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Unlock all answers

Get 1 free homework help answer.
Get unlimited access
Already have an account? Log in
Share
Reid Wolff
Reid WolffLv2
17 Dec 2019
Get unlimited access
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

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.

Can a Production Possibility Frontier ever shift inward?

a. No, an economy's capacity to produce always increases over time.

b. Yes, if new regulations restrict a country's capacity to produce goods or if a natural disaster destroys infrastructure.

c. No, but an economy can produce at a point inside of its PPF.

d. Yes, if it has underutilized resources. (Lots of unemployment, for example).

11. A nation produces at a point inside its PPF

a. when it trades with other nations.

b. when it produces inefficiently.

c. when its PPF is bowed out.

d. never.

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in