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[DOC File]CHAPTER 1: TEST BANK
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In the previous module, students have learned that the simple model of production possibilities is used to demonstrate scarcity, trade-offs, opportunity costs and economic growth. One of the results of the model is that a nation cannot consume beyond the production possibilities curve.
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PPC and Economic Goals QUIZ
Assuming the availability of 1 million labor hours, draw a constant cost production possibilities curve for France with cheese on the vertical axis and wine on the horizontal axis. If France has a comparative advantage in the production of wine, show where France will produce on its production possibilities curve.
production possibility curve in economics

[DOC File]MICROECONOMICS - TEST ONE
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give an example of opportunity cost: You are in the clothing store. You see a pair . of pants and a T-shirt that you like. However, you have only enough money for one item . of clothing. You decide to buy the pants. ... D. “Study shows a shift in the production possibilities curve to the left!” ...
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[DOC File]PC\|MAC
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Give an example of each factor of production for this nation based on trucks and boats. Label the graph with: Production Possibilities Curve, Future Production Possibilities Curve, point of efficiency, point of underutilization, good and services being compared, growth, impossible.
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Home - Troup County School System
5. If the production possibilities curve is concave from the origin (or bowed out), then economists say that. A. Resources are scarce in the economy. B. Resources are not equally suited for the production of both goods. C. Economic growth is occurring in the economy. D. Resources are …
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Production Possibility Curve: meaning, definition, example ...
II. A. Production Possibilities Curve. 1. We begin with a simplification of economic reality, one that imagines an economy creating only two goods. In the book an example is given of a society that has to choose which combination of beef and all–purpose machines to produce.
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[DOC File]Chapter 2: Production Possibilities Curve, Scarcity, and ...
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Production Possibilities Curve. Point A. in the diagram for example, shows that . FA. of food and . CA. of computers can be produced when production is run efficiently. So can . FB. of food and . CB. of computers (point . B). All points to the right of (or above) the curve are technically impossible (or cannot be sustained for long).
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[DOCX File]MUSE TECHNOLOGIES
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15. Which of the following movements on the production possibilities graph might represent changes in U.S. choices between crime prevention and other goods and services in the past quarter century? From A to B. From B to A. From C to D. From D to C. Expenditures on which of the following have increased most? courts. police activities. prisons
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[DOC File]Production Possibility Frontier - PPF
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T 4. A shift of the supply curve to the right is an increase in supply. T 5. Society can reach a point beyond its current production possibilities curve if economic growth occurs. T 6. Any point on the production possibilities curve represents full employment and efficiency. F 7. Production possibilities curves never shift outwards. T 8.
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[DOC File]Practice Questions Guide:
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12. A production possibilities curve shows: A) that resources are unlimited. B) that people prefer one of the goods more than the other. C) the maximum amounts of two goods that can be produced assuming the full and efficient use of available resources. D) combinations of labor only necessary to produce specific levels of output. 13.
production possibility curve in economics

Production possibilities curve example