econ AKA death
28 on chpt 2 by itself.
yes
Dina faces _____ opportunity costs in the production of the sliders and hot wings. A. Constant B. Increasing C. Negative D. decreasing
A
If the economy is currently producing at point E, what is the opportunity cost of moving to point B? A. 0 spoons B. 26 thousand forks C. 20 thousands forks D. 60 thousand spoons (pic on chpt 2 page 2 question 8)
A
If the economy is currently producing at point E, what is the opportunity cost of moving to point D? A. 16 thousands spoons B. 0 spoons C. 26 thousand spoons D. 20 thousand forks (pic on page 2 chpt 2 question 5)
A
Assume Dina's diner only produces sliders and hot wings. a combination of 60 sliders and 25 hot wings would appear A along dinas production possibilities frontier B. inside Dinas production possibilities frontier C. outside dinas production possibilities frontier D. at the verticle intercept of Dinas production possibilities frontier (pic chpt 2 page 2 question 6)
A.
If the economy is currently producing at point X, what is the opportunity cost of moving to point W? A. 3 million tons of steel B. 5 million tons of paper C. 9 million tons of paper D. 19 million tons of steel pic on chpt 2 page 4 question 13)
A.
Assume dinas diner only produces sliders and hot wings. A combination of 40 sliders and 24 hot wings would appear A. along side Dina's production possibilities frontier B. Inside Dina's production possibilities frontier C. outside Dina's production possibilities frontier D. At the verticle intercept of Dina's production possibilities frontier (pic on chpt 2 pg 4 number 14)
B
Consider the following events: a) an increase in the unemployment rate b) general technological advancement c.) an increase in consumer wealth A. B and C B. A only C. A, B, and C D. A and B only
B
If the production possibilities frontier is linear, then A. It is easy to efficiently produce output B. opportunity costs are constant as more of one good is produced C. opportunity costs are decreasing as more of one good is produced D. Opportunity costs are increasing as more of one good is produced
B
When is the opportunity cost of one dozen orchids? A. 0.4 dozen roses B. 2.5 dozen roses C. 7.25 dozen roses D. 16 dozen roses (pic on chpt 2 page 5 question 16)
B
The unattainable points in a production possibilities diagram are A. The points of the horizontal and vertical intercepts B. The points outside the production possibilities frontier C. the points along the production possibilities frontier D. the points within the production possibilities frontier
B.
_____ is (are) inefficient in that not all resources are being used. A. Point B B. Point A C. Point C D. Points A and C (picture on pg 1 chpt 2 question 2)
B.
An outward shift of a nations production possibilities frontier can occur due to to A. A natural disaster like a hurricane or bad earthquake B. A change in the amounts of one good desired C. An increase in the labor force D. A reduction in unemployment
C
Assume Dina's Diner only produces sliders and hot wings. A combination of 60 sliders and 50 hot wings would appear A. Along Dina's production possibilities frontier B. Inside Dina's production possibilities frontier C. outside Dina's production possibilities frontier D. At the vertical intercept of Dina's production possibilities frontier (pic on chpt 2 page 3 number 10)
C
Assume Nadia's Neckware only produces ascot and bowties. A combination of 24 ascots and 12 bowties would appear A. Along Nadia's production possibilities frontier B. Inside Nadia's production possibilities frontier C. outside Nadia's production frontier D. At the horizontal intercept of Nadia's production possibilities frontier (pic on chpt 2. page 4 question 15)
C
If the two countries specialize and trade, who should export lumber? A. There is no basis for trade between the two countries B. They should both be exporting lumber C. Estonia D. Finland (pic on chpt 2 question 26)
C
Suppose your expenses for this term are as follows: tuition : 5,000, room and board: 3,000 books and other edu supplies: 500. Further, during the term, you can only work part-time and earn 4,000 instead of our full time salary of 10,000. what is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college? A. 5,500 B. 8,500 C. 11,500 D. 14,500
C
The production possibilities frontier model assumes all of the following except, A. Constant B. Increasing C. Negative D. Decreasing
C
What is the opportuniy cost of producing 1 snow cone in greenland? A. 2/3 of a popsicle B. 5/6 of a popsicle C. 1 1/5 popsicles D. 200 popsicles (pic on chpt 2 number 26)
C
If the economy is currently producing at point A, what is the opportunity cost of moving to point B? A. 16 thousand spoons B. 46 thousand forks C. 12 thousands forks D. 60 thousands spoons (picture on page 1 chpt 2 question 1)
C.
In a production possibilities frontier model, a point inside the frontier is A. productively efficient B. Allocatively inefficient C. Allocatively efficient D. Productively inefficient
D
The ____ production points on a production possibility curve are the points along and inside the production possibility frontier. A. unattainable B. allocatively efficient C.productively efficient D. attainable
D
The recession of 2007-2009 would most likely be represented in a production possibilities frontier graph by A. A point on the frontier B. a point outside the frontier C. An intercept on either the vertical or the horizontal D. a point inside the frontier
D
_____ a nation's production possibilities frontier represents economic growth A. Moving down along B. Moving up along C. An inward shift of D. an outward shift of
D
______ is (are) technically efficient A. Points B and C B. Point A C. Point C D. Point B (pic on chpt 2 question 25)
D
______ shows that if all resources are fully and efficiently utilized, more of one good can be produced only by producing less of another good A. Comparative advantage B. The mixed market system C. absolute advantage D. The production possibilities frontier model
D
Is it possible to have an absolute advantage in producing a good or service without having a comparative advantage true or false
False
An increase in the unemployment rate may be represented as a movement from point on the production possibilities frontier to a point inside the frontier True or False
true