A.   where 100 percent of the economy is devoted to producing that good

B.   where 150 percent of the economy is devoted to producing that good

C.   of inefficiency

D.   comparative disadvantage

E.   where 90 percent of the economy is devoted to producing that good

A.   increasing opportunity costs

B.   comparative complexity

C.   decreasing marginal opportunity costs

D.   production possibility surpluses

E.   diverting opportunity costs

A.   the economy is violating the law of increasing costs

B.   the production possibilities curve shifted inwards

C.   resources that are better suited towards iron production are being converted from the glass sector

D.   the production possibilities curve is becoming steeper

E.   resources that are better suited towards glass production are being converted from the iron sector

A.   some resources, people, firms, and nations are more efficient at producing certain goods/services than alternative goods/services.

B.   opportunity costs are maximized.

C.   labor increases efficiency

D.   all resources are equally effective in the production of all goods

E.   specialization and the division of labor help markets function more effectively

A.   must be bowed inwards

B.   must be inverted

C.   an indeterminate shape

D.   must be bowed outwards

E.   a straight line

A.   extremely flat

B.   exponential

C.   a straight line

D.   bowed outward

E.   relatively flat

A.   attainable and deficient

B.   due to comparative advantage

C.   unattainable

D.   disentangled

E.   attainable and inefficient

A.   can be due to comparative advantage

B.   can be attainable and efficient

C.   can be attainable and complex

D.   can occur when all resources are not being utilized

E.   can occur when the maximum amount of production possible is taking place

A.   comparative advantage gains

B.   gains from trade

C.   a productivity capacity decline in both goods

D.   a productive capacity decline in one good

E.   disequilibrium

A.   Countries won't necessarily produce what they have comparative advantage in.

B.   A financial bubble an occur that causes production to be greater than predicted.

C.   There can be productivity gains in one sector.

D.   All of the resources will be transferred between the sectors in an economy.  This will effectively leave some resources to remain idle. This can cause productivity declines in the short-term.

E.   All of the resources might not be able to transferred between the sectors in an economy.  This will effectively leave some resources to remain idle.