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in Economics by (53.0k points)
"An economy always produces on, but not inside, a PPC." Defend or refute.

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The given statement is refuted. PPC is drawn on the assumption that the given resources are fully and efficiently utilized. Unemployment is a situation when resources are inefficiently utilized or underutilized. It means that the economy would not operate on the PPC but somewhere inside the PPC.

The Following figures indicate this situation :

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