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Question: 5 consider a production possibilities boundary showing the quantity of...

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5) Consider a production possibilities boundary showing the quantity of military goods and the qumdity of civlian goods on the two axes. A movement along the production possibilities boundary could be caused by A) the employment of previously idle resources. B) the reallocation of resources between military and civilian goods. C) the growth of productive capacity. D) an increase in the labour supply E) technological progress. 6) Which of the following statements best describes the economic concept of scarcity? A) Society is not employing all of its available resources in an efficient manner. B) Peoples wants can never be satisfied by the available resources C) Scarcity afflicts only poor countries. D) Too many frivolous goods and services are produced at the expense of socially desirable goods and services. E) Production is efficient, but distribution is inefficient. With a budget of $200 million, the government can choose to purchase 4 helicopters or repair 200 km of highway A B 50 100 150 200 Kllometres of Highway Recenstruction 7) Refer to the figure above. For the government, the opportunity cost of one search and rescue helicopter is A) 0 kilometres of highway repair. B) 50 kilometres of highway repair. C) 100 kilometres of highway repair. D) 150 kilometres of highway repair E) 200 kilometres of highway repair
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