C719 - Study guides, Class notes & Summaries
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C719 WGU 150 Questions With Complete Solutions
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The overriding reason why households and societies face many decisions is that - ️️resources are scarce 
 
When a society cannot produce all the goods and services people wish to have, it is said that the economy is experiencing - ️️scarcity 
 
Sophia is planning her activities for a hot summer day. She would like to go to the local swimming pool and see the latest blockbuster movie, but because she can only get tickets to the movie for the same time that the pool is open she can only ch...
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WGU C719 - Macroeconomics 90 Questions With Answers
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According to the production possibilities curve model, as you increase the production of one good, what will happen to the sacrifices of the alternate good? - ️️They will steadily increase 
 
A farmer fully utilizes his resources to produce cauliflower and kale. As the farmer produces more cauliflower, he has fewer resources available to produce kale. Which curve is illustrated in this scenario? - ️️Production possibilities curve 
 
What are the main foci of economics - ️️Consumption...
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Macroeconomics- C719 Western Governors University Questions and Correct Answers
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The value of the best alternative that is sacrificed to obtain something you want is a/an - Opportunity cost 
 
What is a graph that shows the various combinations of choices an individual can make with the resources available? - Choice curve 
 
The assumption that all resources are alike will produce a - straight line curve 
 
A curved production possibilities curve (PPC) changes the assumption that resources are - alike 
 
What explains how the production of larger amounts of one g...
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WGU C719 Macroeconomics|89 Questions with 100% Correct Answers | Verified | Latest Update
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WGU C719 Macroeconomics|89 Questions with 100% Correct Answers | Verified | Latest Update
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WGU C719 Macroeconomics|89 Questions with 100% Correct Answers | Verified | Latest Update
- Exam (elaborations) • 21 pages • 2023
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WGU C719 Macroeconomics|89 Questions with 100% Correct Answers | Verified | Latest Update
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C719 - Macroeconomics WGU Complete Solutions With Satisfactory Tests
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C719 - Macroeconomics WGU Complete Solutions 
With Satisfactory Tests 
According to the production possibilities curve model, as you increase the production of 
one good, what will happen to the sacrifices of the alternate good? They will steadily 
increase 
A farmer fully utilizes his resources to produce cauliflower and kale. As the farmer 
produces more cauliflower, he has fewer resources available to produce kale. Which 
curve is illustrated in this scenario? Production possibilities curve 
...
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C719 Personal Study Guide for Western Governors University
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C719 Personal Study Guide for Western Governors University
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WGU C719 – Macroeconomics Questions And Answers 2023
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WGU C719 – Macroeconomics Questions And 
Answers 2023 
Scarcity The inability to satisfy everyone's wants 
Microeconomics Study of individual and business choices in the economy 
Macroeconomics Study of the economy as a whole 
Opportunity cost The full value of the best alternative that is given up or forgone. 
Production possibilities curve Curve showing the various output combinations of two 
goods or groups of goods that can be produced in an economy with the available 
resources. 
Straigh...
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WGU C719 Macroeconomics Exam 3 Questions with answers.
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WGU C719 Macroeconomics Exam 3 Questions with answers.
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WGU C719 Macroeconomics Study Guide Questions And Answers
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WGU C719 Macroeconomics Study Guide Questions And Answers 
Scarcity limited quantities of resources to meet unlimited wants 
opportunity cost cost of the next best alternative use of money, time, or resources 
when one choice is made rather than another 
How does the production possibilities frontier illustrate the concept of trade-offs? 
when an economy is operating on the PPF curve it is efficient. It is not possible to 
produce more of one good without decreasing the amount produced for the o...
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