MacroEconomics

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A B C D E
Automobile 0 2 4 6 8
Forklifts 30 27 21 12 0

If the economy characterized by this production table and curve were producing 3 auto and 20 forklifts, what could you conclude about its use of its available resources?

  • MacroEconomics -

    As 3 automobiles fits between (2 autos, 27 forklifts) and (4 autos, 21 forklifts) but 20 forklifts is less than 21, you can conclude that the economy is producing below its maximum output.

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