A country currently is using all its land to produce wheat and grapes.However,the land most suited to growing grapes is being used to produce wheat,and the land most suited to growing wheat is being used to produce grapes.This is an example of
A) increasing opportunity costs
B) involuntary unemployment
C) productive inefficiency
D) central planning
E) communal ownership
Correct Answer:
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Q48: As a society produces more and more
Q49: Assume that society is operating on its
Q50: Figure 2-9 Q51: According to the law of increasing opportunity Q52: Which of the following is an example Q54: Productive inefficiency could arise from Q55: The law of increasing opportunity cost is Q56: Production is productively efficient when Q57: If a society is operating on its Q58: Figure 2-10
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A) a waste
A) the maximum
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