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.   production possibility surpluses

B.   decreasing marginal opportunity costs

C.   increasing opportunity costs

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

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

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

D.   labor increases efficiency

E.   opportunity costs are maximized.

A.   a straight line

B.   an indeterminate shape

C.   must be bowed inwards

D.   must be bowed outwards

E.   must be inverted

A.   relatively flat

B.   bowed outward

C.   exponential

D.   a straight line

E.   extremely flat

A.   due to comparative advantage

B.   attainable and deficient

C.   unattainable

D.   disentangled

E.   attainable and inefficient

A.   can occur when all resources are not being utilized

B.   can be due to comparative advantage

C.   can be attainable and efficient

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

E.   can be attainable and complex

A.   gains from trade

B.   comparative advantage gains

C.   a productive capacity decline in one good

D.   a productivity capacity decline in both goods

E.   disequilibrium

A.   There can be productivity gains in one sector.

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

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