WGU c712 quiz #2,#3, #4, #5, #6, #7, #9, #10, #11 | 100 Questions with 100% Correct Answers | Verified | Latest Update | 53 Pages

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1. The production possibilities frontier illustrates A. Goods and services that people want. B. The limits to future growth of a nation. C. How money can be allocated among two kinds of goods. D. ... The minimum combination of goods and services that can be produced. E. The various combinations of output a nation can produce given its available resources and technology. - ✔✔E. The various combinations of output a nation can produce given its available resources and technology. Which of the following are assumptions used when drawing a production possibilities frontier? * A. Only two goods are considered. B. Demand equals supply. C. The level of technology is constant. D. How much of each good people want. - ✔✔A. Only two goods are considered. C. The level of technology is constant. [Show More]

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