The diagram below shows a country’s production possibilities curve. Two outputs are possible, capital goods and butter If the economy were operating at point Z this would indicate that not all resources were fully employed the scarcity–choice problem had been resolved. A) 1 and 2 B) Neither 1 or 2 C) 2 only D) 1 only
The diagram below shows a country’s production possibilities curve. Two outputs are possible, capital goods and butter If the economy were operating at point Z this would indicate that not all resources were fully employed the scarcity–choice problem had been resolved. A) 1 and 2 B) Neither 1 or 2 C) 2 only D) 1 only
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
The diagram below shows a country’s
If the economy were operating at point Z this would indicate that
- not all resources were fully employed
- the scarcity–choice problem had been resolved.
A) 1 and 2
B) Neither 1 or 2
C) 2 only
D) 1 only
Transcribed Image Text:175
100
Y
80
144 168
210
Butter (tons)
Capital Goods
N
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