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

B.   comparative disadvantage

C.   of inefficiency

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

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

A.   production possibility surpluses

B.   diverting opportunity costs

C.   increasing opportunity costs

D.   decreasing marginal opportunity costs

E.   comparative complexity

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

B.   the production possibilities curve shifted inwards

C.   the production possibilities curve is becoming steeper

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

E.   the economy is violating the law of increasing costs

A.   labor increases efficiency

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

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

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

E.   opportunity costs are maximized.

A.   must be bowed inwards

B.   a straight line

C.   must be bowed outwards

D.   must be inverted

E.   an indeterminate shape

A.   extremely flat

B.   bowed outward

C.   exponential

D.   a straight line

E.   relatively flat

A.   unattainable

B.   disentangled

C.   attainable and deficient

D.   attainable and inefficient

E.   due to comparative advantage

A.   can occur when all resources are not being utilized

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

C.   can be due to comparative advantage

D.   can be attainable and efficient

E.   can be attainable and complex

A.   a productivity capacity decline in both goods

B.   disequilibrium

C.   gains from trade

D.   a productive capacity decline in one good

E.   comparative advantage gains

A.   There can be productivity gains in one sector.

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

C.   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.

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