the economy is at point D, a) more can be produced of both X and Y, without an increase in resources or improvement in technology. b) to produce more of product Y, some of product X has to be sacrificed. c) the economy is not producing efficiently. d) the economy cannot reach this point without an increase in resources or improvement in technology. e) both (a) and (c) are correct
the economy is at point D, a) more can be produced of both X and Y, without an increase in resources or improvement in technology. b) to produce more of product Y, some of product X has to be sacrificed. c) the economy is not producing efficiently. d) the economy cannot reach this point without an increase in resources or improvement in technology. e) both (a) and (c) are correct
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter10: Financing And Producing Goods
Section: Chapter Questions
Problem 9AA
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03. If the economy is at point D,
a) more can be produced of both X and Y, without an increase in resources or improvement in technology. |
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b) to produce more of product Y, some of product X has to be sacrificed. |
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c) the economy is not producing efficiently. |
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d) the economy cannot reach this point without an increase in resources or improvement in technology. |
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e) both (a) and (c) are correct |
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