THE GRAPH ABOVE SHOWS TWO PRODUCTION POSSIBILITIES CURVES FOR A NA...

120. - TEST BANK FOR ESSENTIALS OF ECONOMICS 3RD EDITION BY BRUE
TEST BANK FOR ESSENTIALS OF ECONOMICS 3RD EDITION BY BRUE
120.The graph above shows two production possibilities curves for a nation that produces two goods, Y and Z. PP

1

and PP

2

show the production possibilities for years 1 and 2. The nation's total production then decreased after year 2. This change could be represented by a move from:F to A.A to E.F to B.→ E to D. AACSB: AnalyticBlooms: UnderstandDifficulty: 1 EasyLearning Objective: 01-05 Apply production possibilities analysis; increasing opportunity costs; and economic growth.Topic: Unemployment, growth, and the futureMultiple Choice Question