A production possibilities curve is drawn basedon which of the following assumptions?a. Resources are fixed and fully employed, andtechnology advances at the rate of growth ofthe economy overall.b. Resources such as nonrenewable resourceswill decline, but labor remains fullyemployed and technology is unchanged.c. Resources can vary; most resourcesexperience times of unemployment; andtechnology advances, particularly duringwartime.d. Resources such as labor and capital will growand are fully employed, and technology isunchanged.e. None of the answers correct.
A production possibilities curve is drawn basedon which of the following assumptions?a. Resources are fixed and fully employed, andtechnology advances at the rate of growth ofthe economy overall.b. Resources such as nonrenewable resourceswill decline, but labor remains fullyemployed and technology is unchanged.c. Resources can vary; most resourcesexperience times of unemployment; andtechnology advances, particularly duringwartime.d. Resources such as labor and capital will growand are fully employed, and technology isunchanged.e. None of the answers correct.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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| A 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 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. |
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