中国大学MOOC: Suppose there are only two people in the world. Each person’s production possibilities frontier also represents his or her consumption possibilities when
举一反三
- Suppose there are only two people in the world. Each person’s production possibilities frontier also represents his or her consumption possibilities when A: neither person faces trade-offs. B: the frontiers are straight lines. C: the frontiers are bowed out. D: they choose not to trade with one another.
- Production efficiency occurs when production ( ). A: is at a point beyond the production possibilities frontie B: is on the production possibilities frontier or inside it C: is at any attainable point D: is on the production possibilities frontie
- On a production possibilities frontier, production is efficient if the production point is
- Refer to the production possibilities frontier in the figure above. Production point ________ represents an ________ production point. A: b; unattainable. B: c; unattainable. C: e; inefficient. D: c; inefficient.
- Any production point outside the production possibilities frontier _______ A: is unattainable B: is associated with unused resources C: is attainable only if prices fall. D: is attainable only if prices rise