Question 3 Refer to figure 5. 1. Assume that the economy is initially at point G on the production possibility curve. To consume an amount of luxury good, shown by the distance O to L, the country will have to give up a quantity of necessity good, indicated by the distance O G to NI O G to N O NI to B O A to B O N to A Question 4 4 p The market process ensures that, when all transactions are voluntary, resources get allocated to the use where they are valued the most. O True False Question 5 4 pt One of the assumptions of an economic analysis is that market functions are controlled by the government. MacBook Air