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

B.   comparative disadvantage

C.   of inefficiency

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

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

A.   diverting opportunity costs

B.   increasing opportunity costs

C.   decreasing marginal opportunity costs

D.   production possibility surpluses

E.   comparative complexity

A.   the economy is violating the law of increasing costs

B.   the production possibilities curve is becoming steeper

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

D.   the production possibilities curve shifted inwards

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

A.   opportunity costs are maximized.

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

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

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

E.   labor increases efficiency

A.   an indeterminate shape

B.   must be bowed outwards

C.   must be bowed inwards

D.   a straight line

E.   must be inverted

A.   bowed outward

B.   relatively flat

C.   exponential

D.   extremely flat

E.   a straight line

A.   disentangled

B.   due to comparative advantage

C.   unattainable

D.   attainable and deficient

E.   attainable and inefficient

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 attainable and complex

D.   can be attainable and efficient

E.   can be due to comparative advantage

A.   gains from trade

B.   comparative advantage gains

C.   disequilibrium

D.   a productivity capacity decline in both goods

E.   a productive capacity decline in one good

A.   There can be productivity gains in one sector.

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

C.   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.

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

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.