Posted by Eric on Sunday, September 9, 2012 at 8:44pm.
1. An economy's production possibilities frontier is also its consumption possibilities frontier.
a. under all circumstances
b. under no circumstances
c. when the economy is self-sufficient
d. when the rate of tradeoff between the two goods being produced is constant
2. The most obvious benefit of specialization and trade is that they allow us to
a. work more hours per week than we otherwise would be able to work.
b. consume more goods than we otherwise would be able to consume.
c. spend more money on goods that are beneficial to society and less money on goods that are harmful to society.
d. consumer more goods by forcing people in other countries to consume fewer goods
- Economics - June, Saturday, March 22, 2014 at 1:45pm
- Economics - Anonymous, Monday, May 9, 2016 at 3:02pm
- Economics - Anonymous, Tuesday, September 13, 2016 at 5:38pm
Answer This Question
More Related Questions
- principles of macroeconomics - It is possible for an economy to increase its ...
- social studies - Our economy ______ operates on its production possibility curve...
- economics - The domestic economy's consumption possibilities curve can be ...
- Economics - Using a diagram, analyse the production possibilities frontier.
- home economics - How is underutilization depicted on a production possibilities ...
- Economics - why with international trade, the domestic economy's consumption ...
- U.S. Gov. and Ec. - What line on a production possibilities curve shows the ...
- economics - This table shows the number of labor hours required to produce a ...
- Economics - In a simple world where resources are abundant a production ...
- economics - Fill in the blanks below with ↑ to indicate an increase in the...