Politics

Question

Select all that apply

Which statements best describe the combinations of goods that lie on the production possibilities curve?

They are attainable.

They are unattainable.

| They represent an underallocation of resources.

• They utilize all of an economy's available resources.

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Answer

They are attainable and utilize all of an economy's available resources.

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The production possibilities curve (PPC) represents the maximum combinations of two goods that an economy can produce with its available resources and technology. The points...