If a certain combination of goods or services lies outside theproduction possibilities curve of an economy, which
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Question:
- If a certain combination of goods or services lies outside theproduction possibilities curve of an economy, which of thefollowing is true? ( )
- Effective trade barriers have reduced foreign imports into the economy.
- New technology is being used in production.
- Resources are not available to achieve that combination of goods or services.
- Resources are not being used efficiently to achieve that combination of goods or services.
- Resources are being used at a more rapid rate than they were in the past.
- The concept of opportunity cost would no longer be relevant if? ?
- poverty in an economy no longer existed
- the supply of all resources were unlimited
- resources were allocated efficiently
- real wages were flexible
- all current incomes were invested in technological research
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