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

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

C.   comparative disadvantage

D.   of inefficiency

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

A.   increasing opportunity costs

B.   decreasing marginal opportunity costs

C.   comparative complexity

D.   production possibility surpluses

E.   diverting opportunity costs

A.   the production possibilities curve is becoming steeper

B.   the production possibilities curve shifted inwards

C.   the economy is violating the law of increasing costs

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

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

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

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

C.   opportunity costs are maximized.

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

E.   labor increases efficiency

A.   must be inverted

B.   a straight line

C.   must be bowed inwards

D.   an indeterminate shape

E.   must be bowed outwards

A.   bowed outward

B.   a straight line

C.   extremely flat

D.   relatively flat

E.   exponential

A.   attainable and deficient

B.   unattainable

C.   attainable and inefficient

D.   disentangled

E.   due to comparative advantage

A.   can be attainable and complex

B.   can be attainable and efficient

C.   can be due to comparative advantage

D.   can occur when all resources are not being utilized

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.   gains from trade

D.   disequilibrium

E.   comparative advantage gains

A.   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.

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

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

E.   There can be productivity gains in one sector.