When constructing a production possibilities frontier, which of the following assumptions is not made? (A) A country produces only two goods or types of goods. (B) The amount of available resources does not change. The technology available to firms is given. There is a fixed quantity of money.

When constructing a production possibilities frontier, which of the following assumptions is not made? (A) A country produces only two goods or types of goods. (B) The amount of available resources does not change. The technology available to firms is given. There is a fixed quantity of money.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

When constructing a production possibilities frontier, which of the following assumptions is not made?
(A) A country produces only two goods or types of goods.
(B) The amount of available resources does not change.
The technology available to firms is given.
There is a fixed quantity of money.

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Question 38
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