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.   increasing opportunity costs

B.   decreasing marginal opportunity costs

C.   production possibility surpluses

D.   comparative complexity

E.   diverting opportunity costs

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

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

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

D.   labor increases efficiency

E.   opportunity costs are maximized.

A.   must be bowed outwards

B.   must be inverted

C.   an indeterminate shape

D.   must be bowed inwards

E.   a straight line

A.   extremely flat

B.   bowed outward

C.   relatively flat

D.   a straight line

E.   exponential

A.   attainable and deficient

B.   unattainable

C.   due to comparative advantage

D.   attainable and inefficient

E.   disentangled

A.   can occur when all resources are not being utilized

B.   can be attainable and complex

C.   can be due to comparative advantage

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

E.   can be attainable and efficient

A.   a productive capacity decline in one good

B.   gains from trade

C.   comparative advantage gains

D.   disequilibrium

E.   a productivity capacity decline in both goods

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

B.   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.

C.   There can be productivity gains in one sector.

D.   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.

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