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Principles of Microeconomics

The following sample questions do not appear on an actual CLEP examination. They are intended to give potential test-takers an indication of the format and difficulty level of the examination and provide content for practice and review. For more sample questions and information about the test, see the CLEP Official Study Guide.

Question 1 of 8

Which of the following is true if a country currently produces a combination of two goods inside its production possibilities curve?

 

  • A.

    The country can increase the production of one good only by decreasing the production of the other good.

  • B.

    The country is producing the efficient combination using all its available resources.

  • C.

    The country can produce more of both goods with its existing resources.

  • D.

    The country cannot increase the production of either good.

  • E.

    The country must be importing more of both goods from other countries.

     

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