113. A production possibilities frontier shows the
A) the maximum attainable combinations of two goods that can be produced with the available resources.
B) combinations of two goods that consumers desire most.
C) maximum output of two goods that can be produced with an unlimited quantity of resources.D) demand for two goods.
114. Being on the production possibilities frontier implies that more of one good can be produced only by
A) decreasing the quantity of the other good produced.
B) increasing the quantity of the other good produced.C) lowering the price of the good.
D) raising the price of the good.
E) None Of The Above
116.An output combination is technically efficient if
A) it is possible to produce more of all goods.
B) it is possible to produce more of one good without producing less ofanother.C) it is not possible to produce more of one good without producing less of another.
D) it is not possible to produce more of one good at any cost.
117.Suppose in an economy some resources are not utilized in their most productive use. If societydecides that it wants more of one good,
A) it will have to increase the quantity of resources in the economy.
B) it will have to give up production and consumption of some other good.
C) it can only do so if technology advances.D) it can achieve this without giving up another good by employing the under-utilized resources.E) None Of The Above
118.In the production possibilities frontier framework, unemployment is represented by
A) an inward shift of the curve.B) a point located inside the curve.
C) a point located outside the curve.
D) a point located on the curve
119.Which of the following would not shift a nation's production possibilities frontier?
A) a liberal immigration policy that welcomes foreign laborB) an increase in a nation's capital stock
C) discovery of oil, a vital input in the production process
D) an increase in the general price level.
132.If the price of SUVs were to increase, we would expect:
A) the demand for gasoline to increase.
B) the demand for gasoline to decrease.
C) the supply of gasoline to increase.
D) the supply of gasoline to decrease.
E) both B and D to occur.
E) None Of The Above