If a society is operating inside its production possibilities curve for guns and butter, then Select one: a. some economic resources are unemployed. b. to produce more butter, it must sacrifice some guns. c. to produce more guns, it must sacrifice some butter. d. consumer preferences must have changed. Oe. economic growth must occur in order to move the economy to a point on the curve.

If a society is operating inside its production possibilities curve for guns and butter, then Select one: a. some economic resources are unemployed. b. to produce more butter, it must sacrifice some guns. c. to produce more guns, it must sacrifice some butter. d. consumer preferences must have changed. Oe. economic growth must occur in order to move the economy to a point on the curve.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter3: Scarcity, Trade-offs, And Production Possibilities

Section: Chapter Questions

Problem 7P

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