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The production possibilities frontier model assumes all of the following except:

a. the economy produces only two products.

b. the level of technology is fixed and unchanged.

c. labor, capital, land, and natural resources are fixed in quantity.

d. production of goods requires full employment of all resources.

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manhokwe tawanda
manhokwe tawandaLv10
12 Oct 2020

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Related questions

A production possibilities curve is drawn based on which of the following assumptions?

A) Resources are fixed and fully employed, and technology advances at the rate of growth of the economy overall.

B) Resources such as non-renewable resources will decline, but labor remains fully employed and technology is unchanged.

C) Resources can vary; most resources experience times of unemployment; and technology advances, particularly during wartime.

D) Resources such as labor and capital will grow and are fully employed, and technology is unchanged.

E) None of the answers are correct.

Ā 

A production possibilities curve is drawn based on which of the following assumptions?

A. Resources are fixed and fully employed, and technology advances at the rate of growth of the economy overall.

B. Resources such as non-renewable resources will decline, but labor remains fully employed and technology is unchanged.

C. Resources can vary; most resources experience times of unemployment' and technology advances, particularly during wartime.

D. Resources such as labor and capital will grow and are fully employed, and technology is unchanged.

E. None of the answers correct.

A production possibilities curve is drawn based on which of the following assumption?

A. Resources are fixed and fully employed, and technology advances at the rate of growth of the economy overall.

B. Resources such as nonrenewable resources will decline, but labor remains fully employed, and technology is unchanged.

C. Resources can vary, most resources experience times of unemployment, and technology advances, particularly during wartime.

D. Resources such as labor and capital will grow, are fully employed, and technology is unchanged.

E. None of the above is correct.

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