Which of the following is assumed in constructing a typical, Ask an Expert

Economics

Which of the following is assumed in constructing a typical production possibilities curve?

a. the economy is engaging in international trade.

b. production technology is fixed.

c. the economy is using its resources inefficiently.

d. resources are perfectly shiftable (equally efficient) among alternative uses.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9604684

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