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

D.   of inefficiency

E.   comparative disadvantage

A.   production possibility surpluses

B.   diverting opportunity costs

C.   increasing opportunity costs

D.   decreasing marginal opportunity costs

E.   comparative complexity

A.   the production possibilities curve shifted inwards

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

C.   the economy is violating the law of increasing costs

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

E.   the production possibilities curve is becoming steeper

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

B.   opportunity costs are maximized.

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

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

E.   labor increases efficiency

A.   an indeterminate shape

B.   must be bowed inwards

C.   must be bowed outwards

D.   must be inverted

E.   a straight line

A.   bowed outward

B.   exponential

C.   extremely flat

D.   a straight line

E.   relatively flat

A.   unattainable

B.   disentangled

C.   due to comparative advantage

D.   attainable and inefficient

E.   attainable and deficient

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

B.   can be attainable and efficient

C.   can occur when all resources are not being utilized

D.   can be due to comparative advantage

E.   can be attainable and complex

A.   comparative advantage gains

B.   a productivity capacity decline in both goods

C.   disequilibrium

D.   gains from trade

E.   a productive capacity decline in one good

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

B.   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.

C.   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.

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

E.   There can be productivity gains in one sector.