Macroeconomics
If a point lies inside the PPF curve, what does it represent?
What does the slope of the PPF curve represent?
In a real-world scenario, how can a PPF model help in understanding resource allocation?
Given a PPF graph, if a point lies outside the curve, what does it represent?
Allocative efficiency is achieved when:
If a point lies inside the PPF curve, what can be said about its efficiency?
Which of the following points on a PPF graph indicates productive efficiency?
If a point lies on the PPF curve, what can be said about its attainability and efficiency?
Why is technology assumed to be fixed when constructing a PPF?
Which of the following best describes the shape of a typical PPF curve?
