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Question 6 (10 points): A point on our production possibilities frontier represents all of the following EXCEPT A. Full production. B. Maximum resource utilization. C.
Question 6 (10 points): A point on our production possibilities frontier represents all of the following EXCEPT A. Full production. B. Maximum resource utilization. C. Full employment. D. Employment discrimination. Question 7 (10 points): The main effect of employment discrimination is unemployment. A. Underemployment. B. Greater efficiency. C. Greater production. Question 8 (10 points): The opportunity cost of a movement from point N to J would A. Be the lost production of some capital goods. B. Be the lost production of some consumer goods. C. Be slower economic growth in the future. D. Not involve any sacrifice of either capital or consumer goods. Question 9 (10 points): The study of economics is a very narrow endeavor. A. It is a way of analyzing decision-making processes caused by scarcity. B. It focuses on how a business should function. C. It is concerned with proving that capitalism is better than socialism. Question 10 (10 points): Economic resources are scarce because they are A. Unlimited. B. Limited. C. Unwanted. D. Expensive
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