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Home / Questions / To move along a production possibilities curve from one point to another requires

To move along a production possibilities curve from one point to another requires

To move along a production possibilities curve from one point to another requires
                            additional resources.

12.              Unemployment or underemployment is shown by a point located inside the production
                            possibilities curve.

13.              When resources are destroyed the production possibilities curve inward to the
                            left.

14.              A country should always specialize in the production of any product for which it holds an
                            absolute advantage.

15.              Innovation is the application of new technology to a production process.

 

16.              Food in the pantry of a household is a resource.

 

17.              The law of increasing costs causes the production possibilities curve to be bowed
                            outward from the origin.

18.              An increase in unemployment will cause this year’s production possibilities curve to shift
                            inward toward the origin.

19.              Factors of production are resources used in the consumption of goods and services.

 

20.              Capital is a good used in the production of goods that households consume.

Dec 13 2019 View more View Less

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