A.   of inefficiency

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

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

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

E.   comparative disadvantage

A.   increasing opportunity costs

B.   decreasing marginal opportunity costs

C.   comparative complexity

D.   diverting opportunity costs

E.   production possibility surpluses

A.   the economy is violating the law of increasing costs

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

C.   the production possibilities curve shifted inwards

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

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

C.   labor increases efficiency

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

E.   opportunity costs are maximized.

A.   must be inverted

B.   a straight line

C.   an indeterminate shape

D.   must be bowed inwards

E.   must be bowed outwards

A.   a straight line

B.   relatively flat

C.   extremely flat

D.   bowed outward

E.   exponential

A.   due to comparative advantage

B.   unattainable

C.   attainable and inefficient

D.   attainable and deficient

E.   disentangled

A.   can be attainable and efficient

B.   can occur when all resources are not being utilized

C.   can be attainable and complex

D.   can be due to comparative advantage

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

A.   a productivity capacity decline in both goods

B.   a productive capacity decline in one good

C.   disequilibrium

D.   gains from trade

E.   comparative advantage gains

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

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

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.