Figure 3 8. Refer to Figure 3. Which point(s) represents attainable a. b. J, K c

Question

Figure 3 8. Refer to Figure 3. Which point(s) represents attainable a. b. J, K c. J, K, L d. J, K, M Figure 4 9. Refer to Figure 4. Which points represent efficient production? a. A, B,D b. A, B, C, F, G c. C, F, G d. A,B 10. A certain production possibilities fronticr shows production possibilities for two goods: wheat and shirts. Which of the following concepts cannot be illustrated by this model? the flow of dollars between sellers of wheat and shirts and buyers of wheat and shirts a, b. the tradeoff between production of wheat and production of shirts the opportunity cost of shirts in terms of wheat the effect of economic growth on production possibilities involving wheat and shirts c. d.

Explanation / Answer

8.)

All the points on PPF and below the PPF are attainable. Points above the PPF are not attainable.

Thus, right answer is : (D)

9)

Points on PPF are efficient. Point below PPF, are inefficient.

Right answer is : (D)

10)

Right answer is :(A)

PPF is not associated with flow of money and goods between buyers and sellers.

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