liva NAME PRINT LAST NAME, FIRST NAME PRODUCTION POSSIBILITIES Use the graph below to answer questions 1 through 5. Housing B° Food Which point corresponds to a combination of food and housing that is currently unattainable? 1. d. b. c. a. Which point illustrates inefficiency or unemployment? b. d. a. C. Which points illustrate efficiency and full employment? A and C 3. B and C A and B d. b. B and D C. a. Shifting resources from food production to housing production could cause the economy to move from point 4. to point b. C; A B; C A; C d. C; D C. a. If the PPF is a straight line, opportunity cost 5. as resources are shifted from producing housing to food production; when the PPF is bowed outward, opportunity co as resources are shifted from producing housing to food production. remains constant; remains constant increases; increases remains constant; increases increases; remains constant a. b. C. In the production possibilities model, economic growth is illustrated by: an inward shift of the production possibilities frontier. an outward shift of the production possibilities frontier. the straight-line shape of the production possibilities frontier. the bowed-outward shape of the production possibilities frontier. 6. a. (b. C. d. 2.
liva NAME PRINT LAST NAME, FIRST NAME PRODUCTION POSSIBILITIES Use the graph below to answer questions 1 through 5. Housing B° Food Which point corresponds to a combination of food and housing that is currently unattainable? 1. d. b. c. a. Which point illustrates inefficiency or unemployment? b. d. a. C. Which points illustrate efficiency and full employment? A and C 3. B and C A and B d. b. B and D C. a. Shifting resources from food production to housing production could cause the economy to move from point 4. to point b. C; A B; C A; C d. C; D C. a. If the PPF is a straight line, opportunity cost 5. as resources are shifted from producing housing to food production; when the PPF is bowed outward, opportunity co as resources are shifted from producing housing to food production. remains constant; remains constant increases; increases remains constant; increases increases; remains constant a. b. C. In the production possibilities model, economic growth is illustrated by: an inward shift of the production possibilities frontier. an outward shift of the production possibilities frontier. the straight-line shape of the production possibilities frontier. the bowed-outward shape of the production possibilities frontier. 6. a. (b. C. d. 2.
Chapter2: Scarcity And Opportunity Costs
Section: Chapter Questions
Problem 14E
Related questions
Question
Question 6
![liva
NAME
PRINT LAST NAME, FIRST NAME
PRODUCTION POSSIBILITIES
Use the graph below to answer questions 1 through 5.
Housing
B°
Food
Which point corresponds to a combination of food and housing that is currently
unattainable?
1.
d.
b.
c.
a.
Which point illustrates inefficiency or unemployment?
b.
d.
a.
C.
Which points illustrate efficiency and full employment?
A and C
3.
B and C
A and B
d.
b.
B and D
C.
a.
Shifting resources from food production to housing production could cause the economy
to move from point
4.
to point
b.
C; A
B; C
A; C
d.
C; D
C.
a.
If the PPF is a straight line, opportunity cost
5.
as resources are shifted from
producing housing to food production; when the PPF is bowed outward, opportunity co
as resources are shifted from producing housing to food production.
remains constant; remains constant
increases; increases
remains constant; increases
increases; remains constant
a.
b.
C.
In the production possibilities model, economic growth is illustrated by:
an inward shift of the production possibilities frontier.
an outward shift of the production possibilities frontier.
the straight-line shape of the production possibilities frontier.
the bowed-outward shape of the production possibilities frontier.
6.
a.
(b.
C.
d.
2.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2fc99bce-2e4d-4bfc-be9f-ddde7d751cae%2F6030b58a-b102-4acc-8a84-e62c76c63787%2Fu0b2at.jpeg&w=3840&q=75)
Transcribed Image Text:liva
NAME
PRINT LAST NAME, FIRST NAME
PRODUCTION POSSIBILITIES
Use the graph below to answer questions 1 through 5.
Housing
B°
Food
Which point corresponds to a combination of food and housing that is currently
unattainable?
1.
d.
b.
c.
a.
Which point illustrates inefficiency or unemployment?
b.
d.
a.
C.
Which points illustrate efficiency and full employment?
A and C
3.
B and C
A and B
d.
b.
B and D
C.
a.
Shifting resources from food production to housing production could cause the economy
to move from point
4.
to point
b.
C; A
B; C
A; C
d.
C; D
C.
a.
If the PPF is a straight line, opportunity cost
5.
as resources are shifted from
producing housing to food production; when the PPF is bowed outward, opportunity co
as resources are shifted from producing housing to food production.
remains constant; remains constant
increases; increases
remains constant; increases
increases; remains constant
a.
b.
C.
In the production possibilities model, economic growth is illustrated by:
an inward shift of the production possibilities frontier.
an outward shift of the production possibilities frontier.
the straight-line shape of the production possibilities frontier.
the bowed-outward shape of the production possibilities frontier.
6.
a.
(b.
C.
d.
2.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
What would be the range for the terms of trade that would make both of these nations benefit economically from trade?
Solution
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Economics:](https://www.bartleby.com/isbn_cover_images/9781285859460/9781285859460_smallCoverImage.gif)
![Principles of Microeconomics](https://www.bartleby.com/isbn_cover_images/9781305156050/9781305156050_smallCoverImage.gif)
Principles of Microeconomics
Economics
ISBN:
9781305156050
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Essentials of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781337091992/9781337091992_smallCoverImage.gif)
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Economics:](https://www.bartleby.com/isbn_cover_images/9781285859460/9781285859460_smallCoverImage.gif)
![Principles of Microeconomics](https://www.bartleby.com/isbn_cover_images/9781305156050/9781305156050_smallCoverImage.gif)
Principles of Microeconomics
Economics
ISBN:
9781305156050
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Essentials of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781337091992/9781337091992_smallCoverImage.gif)
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Brief Principles of Macroeconomics (MindTap Cours…](https://www.bartleby.com/isbn_cover_images/9781337091985/9781337091985_smallCoverImage.gif)
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
![ECON MACRO](https://www.bartleby.com/isbn_cover_images/9781337000529/9781337000529_smallCoverImage.gif)