Econ (32).pdf - 162 iChapter i2u2014Choice iOpportunity...

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162. i Chapter i 2 Choice, i Opportunity i Costs, i and i Specialization i Questi19 i Under i what i circumstances i would i a i nation i be i operating i inside i its i production i possibilities i curve? a. i The i nation i has i just i realized i a i significant i improvement i in i the i production i process i of i a i strategically i important i good. b. i The i nation i is i suddenly i employing i a i more i highly i skilled i work i force. *c. i The i nation i is i not i utilizing i its i existing i labor i force i efficiently. d. i The i nation i is i producing i the i maximum i amount i of i output i that i it i can i produce, i given i its i limited i resources. e. i The i nation's i capital i stock i doubles.
163. i Chapter i 2 Choice, i Opportunity i Costs, i and i Specialization i Questi20 i Figure i 2-2 Production i Possibilities i Schedule Choice Capital i (Investment) i goods Consumption i Goods A 0 B 1 C 2 D 3 E 4 According i to i the i production i possibilities i schedule i in i Figure i 2-2, i if i the i economy i was i initially i producing i combination i B i and i then i moved i to i combination i C, 10 9 7 4 0

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