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What is represented by a point inside the curve on a production possibilities curve graph?
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A reduction in the level of unemployment would have which effict with respect to the nation's production possibilities curve..........?
It would not shift the curve; it would be represented by moving from a point inside the curve toward the curve.
What does a point inside a production possibilities curve represent?
A point inside a production possibilities curve represents things that can be produced. However, points inside the curve would be less efficient to produce than those points resting directly on the line.
A point inside the production possibilities curve is.....?
Attainable, but the economy is inefficient.
Where on a production possibilities curve an economy working below its most efficient production levels is shown?
At any point of underutilization/any point inside of the curve
If the law of increasing opportunity costs is reflected in a production possibilities curve which is?
production possibilities curve convex to the origin. Elson Mendoza was here.
A reduction in the level of unemployment would have which effict with respect to the nation's production possibilities curve..........?
It would not shift the curve; it would be represented by moving from a point inside the curve toward the curve.
What does a point inside a production possibilities curve represent?
A point inside a production possibilities curve represents things that can be produced. However, points inside the curve would be less efficient to produce than those points resting directly on the line.
A point inside the production possibilities curve is.....?
Attainable, but the economy is inefficient.
What causes movement along a production possibilities curve?
Movement along a production possibilities curve would imply that society has chosen a different set/amount of input for the two products/services represented in the graph.
Where on a production possibilities curve an economy working below its most efficient production levels is shown?
At any point of underutilization/any point inside of the curve
An economy working below its most efficient production levels?
An economy working below its most efficient production levels points inside the production possibilities frontier. This is in the context of a production possibilities curve.
If the law of increasing opportunity costs is reflected in a production possibilities curve which is?
production possibilities curve convex to the origin. Elson Mendoza was here.
Does an economy that is inside its production possibilities curve face any trade-offs?
If there are opportunity cost, then yes my friend, they do.
Is the United States on the production possibilities curve?
no
How does production possibilities curve differ from production possibilities frontier?
the possibility production curve show production that can be produces using minimum resources whereas the possibilty productive frointer show the attainable levls of production.
If the economy is inside the production possibilities curve then more output can be produced using existing resources true or false?
That is true :)
Is the outward curve of the production possibilities curve good or bad?
it really good
