Transcription of Chapter 2 The Economic Problem MULTIPLE CHOICE. Choose …
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Chapter 2 The Economic Problem MULTIPLE CHOICE. Choose …
Chapter 2 The Economic ProblemTest BankMULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the ) The production possibilities frontierA)refers to the technology used in such goods as computers and military )marks the boundary between attainable combinations of goods and services andunattainable ) once applied to technology but now refers to Japanese )is also called the supply )2) The production possibilities frontier is the boundary betweenA)those combinations of goods and services that can be produced and those that can )those combinations of goods and services that can be produced and those that ) those resources that are limited and those that are )those wants that are limited and those that are )3) The production possibilities frontier is the boundary between those combination of goods andservices that can beA)produced and those that can be )
8)A production possibilities frontier does NOTillustrate A)attainable and unattainable points. B)the exchange of one good or service for another. C)the limits on production imposed by our limited resources and technology. D)opportunity cost. 8) 9)Any production point outside the production possibilities frontier A)is attainable only if prices fall.
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