Respuesta :
The given statement is true.
What is production possibilities curve?
The graph known as the production possibilities curve (PPC) illustrates all the possible output combinations that can be created using the available resources and technology. The PPC, also referred to as the production possibilities frontier (PPF), depicts scarcity and tradeoffs.
A production-possibility frontier (PPF), production possibility curve (PPC), production possibility boundary (PPB), or transformation frontier is a graphical representation of all the possible options of output for two products that can be produced using all factors of production, where the given resources are fully utilized. It shows different combinations of the amounts of two goods that can be produced within the given resources and technology.
The term "long run aggregate supply" (LRAS) refers to the output that an economy can produce when all of its factors of production are utilized, and as a result, when it is at full employment. A curve that depicts the correlation between price level and real GDP that would exist if all prices, including nominal wages, were completely flexible; prices can vary along the LRAS, but output cannot because it represents the output at full employment.
Hence, The given statement is true.
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