1. Label each point on the PPF below as efficient, inefficient, or unattainable. Good Y A Good X Point A Point B Point C a. Does the PPF demonstrate increasing or constant opportunity cost? 2. The ability to produce a good using fewer resources is called a. Is this the best principle to guide specialization? b. If not, what is? 3. Complete the table: Population 500,000 Not in Labor Force Labor Force 350,000 Unemployment Rate Employed 329,000 Labor Force Participation Rate Unemploye d 4. If some of the unemployed workers in the previous question drop out of the labor force: a. Do we expect the unemployment rate to increase, decrease, or remain the same? b. Do we expect the labor force participation rate to increase, decrease, or remain the same