Answer: A. On the curve.
Explanation:
Production possibilities curve (PPC) is simply a graphical representation that is used to show different combinations of two goods which a particular economy can produce when the economy uses the resources it has efficiently.
Points on the curve shows that the resources in an economy are efficiently used, points on the interior of the curve shows that the resources are used inefficiently while the points that are beyond the curve shows are referred to as unattainable.
Therefore, if you are using your factors of production at 100% efficiency, you will be on the curve.
The answer is A.
C. $18,644 is the correst answer. Hope this helped
Answer:
Bounded rationality.
Explanation:
Bounded rationality is the possibility that in decision-making, rationality of people is restricted by the data they have, the subjective impediments of their psyches, and the limited measure of time they need to settle on a decision.
Answer:
Social media is a very good way of protesting because many many people go on social media sites and they can join in and instead of being abused by other people outside you can easily make a protest on video or a website.
Potential GDP = $20
Real GDP =$19.2
so an output gap is measured relative to potential output and it is calculated according to the formula [( X - Y ) Ă· Y] Ă—100. In this case, the output gap is [($10 billion - $8 billion) Ă· $8 billion] Ă—100 = 25%.
