economy ****

. Refer to Table 3-6. Which of the following combinations of toothbrushes and hairbrushes could Portugal produce in 30 minutes? a. 1 toothbrush and 4 hairbrushes b. 4 toothbrushes and 2 hairbrushes c. 5 toothbrushes and 6 hairbrushes d. 6 toothbrushes and 5 hairbrushes

A

Refer to Figure 3-7. If the production possibilities frontier shown for Juba is for 2 hours of work, then how long does it take Juba to make one bowl? a. 1/8 hour b. 1/2 hour c. 2 hours d. 8 hours

B

. Refer to Table 3-9. Assume that Maya and Miguel each has 60 hours available. If each person divides his/her time equally between the production of mixers and toasters, then total production is a. 8 mixers and 16 toasters. b. 3.5 mixers and 6 toasters. c. 15 mixers and 9 toasters. d. 20 mixers and 12 toasters.

A

Abby bakes brownies and Liam grows flowers. In which of the following cases is it impossible for both Abby and Liam to benefit from trade? a. Abby does not like flowers and Liam does not like brownies. b. Abby is better than Liam at baking brownies and Liam is better than Abby at growing flowers. c. Liam is better than Abby at baking brownies and at growing flowers. d. Both Abby and Liam can benefit from trade in all of the above cases.

A

Consider two individuals — Howard and Mai — each of whom would like to wear sweaters and eat tasty food. The gains from trade between Howard and Mai are least obvious in which of the following cases? a. Howard is very good at knitting sweaters and at cooking tasty food, but Mai's skills in both of these activities are very poor. b. Howard is very good at knitting sweaters and at cooking tasty food; Mai is very good at knitting sweaters, but she knows nothing about cooking tasty food. c. Howard's skills in knitting sweaters are fairly good, but his skills in cooking tasty food are fairly bad; Mai's skills in knitting sweaters are fairly bad, but her skills in cooking tasty food are fairly good. d. Howard's skills are such that he can produce only sweaters, and Mai's skills are such that she can produce only tasty food.

A

For a self-sufficient producer, the production possibilities frontier a. is the same as the consumption possibilities frontier. b. is greater than the consumption possibilities frontier. c. is less than the consumption possibilities frontier. d. is always a straight line.

A

Refer to Figure 3-1. The rate of tradeoff between producing chairs and producing couches depends on how many chairs and couches are being produced in a. Panel (a). b. Panel (b). c. both Panel (a) and Panel (b). d. neither Panel (a) nor Panel (b).

A

Refer to Figure 3-2. If the production possibilities frontier shown is for 24 hours of production, then how long does it take Brazil to make one cashew? a. 1/10 hour b. 1/3 hour c. 3 hours d. 10 hours

A

Refer to Figure 3-4. If the production possibilities frontier shown for Lisa is for 4 months of work, then how long does it take Lisa to produce one jacket? a. 1/4 month b. 1/2 month c. 2 months d. 4 months

A

Refer to Figure 3-4. If the production possibilities frontiers shown are each for one year of working, then which of the following combinations of jackets and sweaters could Lisa and Bryce together produce in a given year? a. 1 sweater and 22 jackets b. 2 sweaters and 20 jackets c. 4 sweaters and 12 jackets d. 5 sweaters and 7 jackets

A

Refer to Figure 3-6. If the production possibilities frontier shown for Maxine is for 3 hours of work, then how long does it take Maxine to make one pie? a. 1/4 hour b. 1/3 hour c. 3 hours d. 4 hours

A

Refer to Table 3-1. Assume that John and Jane each work 24 hours. What happens to total production if instead of each person spending 12 hours producing each good, Jane spends 21 hours producing wine and 3 hours producing bread and John spends 3 hours producing wine and 21 hours producing bread? a. The total production of bread and wine each rise. b. The total production of bread rises and the total production of wine falls. c. The total production of bread falls and the total production of wine rises. d. The total production of bread and wine each fall.

A

Refer to Table 3-10. We could use the information in the table to draw a production possibilities frontier for Japan and a second production possibilities frontier for Korea. If we were to do this, measuring airplanes along the horizontal axis, then a. the slope of Japan's production possibilities frontier would be -5 and the slope of Korea's production possibilities frontier would be -3. b. the slope of Japan's production possibilities frontier would be -0.2 and the slope of Korea's production possibilities frontier would be -0.33. c. the slope of Japan's production possibilities frontier would be 0.2 and the slope of Korea's production possibilities frontier would be 0.33. d. the slope of Japan's production possibilities frontier would be 5 and the slope of Korea's production possibilities frontier would be 3.

A

Refer to Table 3-17. If the production possibilities frontier is bowed outward, then "?" could be a. 180. b. 200. c. 220 d. 240.

A

Refer to Table 3-19. The values in the table represent the amounts of lemonade and pizzas that Alice and Betty can produce in one week without and with specialization and trade. What are Alice and Betty's gains from specialization and trade? a. Alice gains 7 pitchers of lemonade and 10 pizzas, while Betty gains 13 pitchers of lemonade and 10 pizzas. b. Alice gains 200 pitchers of lemonade and 100 pizzas, while Betty gains 180 pitchers of lemonade and 180 pizzas. c. Alice gains 207 pitchers of lemonade and 110 pizzas, while Betty gains 193 pitchers of lemonade and 190 pizzas. d. Alice gains 400 pitchers of lemonade and 0 pizzas, while Betty gains 0 pitchers of lemonade and 300 pizzas.

A

Refer to Table 3-3. We could use the information in the table to draw a production possibilities frontier for England and a second production possibilities frontier for France. If we were to do this, measuring wine along the horizontal axis, then a. the slope of England's production possibilities frontier would be -4 and the slope of France's production possibilities frontier would be -0.4. b. the slope of England's production possibilities frontier would be -0.25 and the slope of France's production possibilities frontier would be -2.5. c. the slope of England's production possibilities frontier would be 0.25 and the slope of France's production possibilities frontier would be 2.5. d. the slope of England's production possibilities frontier would be 4 and the slope of France's production possibilities frontier would be 0.4.

A

Refer to Table 3-4. Assume that Andrea and Paul each has 480 minutes available. If each person divides his time equally between the production of wheat and beef, then total production is a. 24 bushels of wheat and 64 pounds of beef. b. 21 bushels of wheat and 33 pounds of beef. c. 16 bushels of wheat and 48 pounds of beef. d. 5 bushels of wheat and 24 pounds of beef.

A

Refer to Table 3-4. Which of the following combinations of wheat and beef could Paul not produce in one 8-hour day? a. 13 bushels of wheat and 60 pounds of beef b. 20 bushels of wheat and 30 pounds of beef c. 20 bushels of wheat and 20 pounds of beef d. 25 bushels of wheat and 15 pounds of beef

A

Refer to Table 3-6. Which of the following combinations of toothbrushes and hairbrushes could Zimbabwe not produce in 120 minutes? a. 5 toothbrushes and 11 hairbrushes b. 10 toothbrushes and 9 hairbrushes c. 20 toothbrushes and 6 hairbrushes d. 30 toothbrushes and 3 hairbrushes

A

Refer to Table 3-7. Assume that the farmer and the rancher each has 24 labor hours available. If each person divides his time equally between the production of meat and potatoes, then total production is a. 6 pounds of meat and 4.5 pounds of potatoes. b. 5.5 pounds of meat and 8 pounds of potatoes. c. 12 pounds of meat and 9 pounds of potatoes. d. 5 pounds of meat and 5.5 pounds of potatoes.

A

Refer to Table 3-8. Assume that England and Spain each has 24 labor hours available. If each country divides its time equally between the production of cheese and bread, then total production is a. 10 units of cheese and 6 units of bread. b. 25 units of cheese and 7.5 units of bread. c. 20 units of cheese and 12 units of bread. d. 12 units of cheese and 8 units of bread

A

Refer to Table 3-8. We could use the information in the table to draw a production possibilities frontier for England and a second production possibilities frontier for Spain. If we were to do this, measuring cheese along the horizontal axis, then a. the slope of England's production possibilities frontier would be -0.67 and the slope of Spain's production possibilities frontier would be -0.5. b. the slope of England's production possibilities frontier would be -1.5 and the slope of Spain's production possibilities frontier would be -2. c. the slope of England's production possibilities frontier would be -.75 and the slope of Spain's production possibilities frontier would be -1. d. the slope of England's production possibilities frontier would be -2 and the slope of Spain's production possibilities frontier would be -.5.

A

Refer to Table 3-9. We could use the information in the table to draw a production possibilities frontier for Maya and a second production possibilities frontier for Miguel. If we were to do this, measuring mixers along the horizontal axis, then a. the slope of Maya's production possibilities frontier would be -2 and the slope of Miguel's production possibilities frontier would be -2. b. the slope of Maya's production possibilities frontier would be -0.5 and the slope of Miguel's production possibilities frontier would be -0.5. c. the slope of Maya's production possibilities frontier would be -1.67 and the slope of Miguel's production possibilities frontier would be -1.67. d. the slope of Maya's production possibilities frontier would be -0.6 and the slope of Miguel's production possibilities frontier would be -0.6.

A

Tom produces baseball gloves and baseball bats. Steve also produces baseball gloves and baseball bats, but Tom is better at producing both goods. In this case, trade could a. benefit both Steve and Tom. b. benefit Steve, but not Tom. c. benefit Tom, but not Steve. d. benefit neither Steve nor Tom.

A

. Refer to Figure 3-6. If the production possibilities frontiers shown are each for one day of work, then which of the following combinations of pies and tarts could Maxine and Daisy together not make in a given day? a. 2 pies and 25 tarts b. 10 pies and 22 tarts c. 12 pies and 15 tarts d. 15 pies and 16 tarts

B

. Refer to Table 3-7. Which of the following combinations of meat and potatoes could the farmer produce in 24 hours? a. 1 pound of meat and 8 pounds of potatoes. b. 2 pounds of meat and 2 pounds of potatoes. c. 1 pounds of meat and 5 pounds of potatoes. d. 3 pounds of meat and 2 pounds of potatoes.

B

As a student, Anne spends 40 hours per week writing term papers and completing homework assignments. On one axis of her production possibilities frontier is measured the number of term papers written per week. On the other axis is measured the number of homework assignments completed per week. Anne's production possibilities frontier is a straight line if a. she faces no trade-off between writing term papers and completing homework assignments. b. she can switch between writing term papers and completing homework assignments at a constant rate. c. the rate at which she can switch between homework assignments and term papers depends on the number of homework assignments she is completing and on the number of term papers she is writing. d. she is required by her professors to spend half of her time on term papers and the other half of her time on homework assignments.

B

People who provide you with goods and services a. are acting out of generosity. b. do so because they get something in return. c. have chosen not to become interdependent. d. are required to do so by the government.

B

Refer to Figure 3-1. The rate of tradeoff between producing chairs and producing couches is constant in a. Panel (a). b. Panel (b). c. both Panel (a) and Panel (b). d. neither Panel (a) nor Panel (b).

B

Refer to Figure 3-3. If Arturo and Dina each divides his/her time equally between the production of tacos and burritos, then total production is a. 200 tacos and 150 burritos. b. 400 tacos and 250 burritos. c. 400 tacos and 300 burritos. d. 800 tacos and 500 burritos.

B

Refer to Figure 3-3. If Dina must work 0.25 hour to produce each taco, then her production possibilities frontier is based on how many hours of work? a. 40 hours b. 100 hours c. 400 hours d. 1600 hours

B

Refer to Figure 3-3. If the production possibilities frontier shown for Arturo is for 100 hours of production, then how long does it take Arturo to make one burrito? a. 1/4 hour b. 1/3 hour c. 3 hours d. 4 hours

B

Refer to Figure 3-4. If Bryce must work 4 months to produce each sweater, then his production possibilities frontier is based on how many months of work? a. 4 months b. 8 months c. 12 months d. 16 months

B

Refer to Figure 3-4. If Lisa and Bryce each divides his or her time equally between producing jackets and producing sweaters, then total production is a. 2 sweaters and 8 jackets. b. 3 sweaters and 13 jackets. c. 5 sweaters and 8 jackets. d. 6 sweaters and 26 jackets.

B

Refer to Figure 3-4. If the production possibilities frontiers shown are each for one year of production, then which of the following combinations of sweaters and jackets could Lisa and Bryce together not produce in a given year? a. 1 sweater and 21 jackets b. 2 sweaters and 20 jackets c. 3 sweaters and 12 jackets d. 5 sweaters and 4 jackets

B

Refer to Figure 3-5. If Hosne and Merve each divides her time equally between making purses and making wallets, then total production is a. 4 purses and 8 wallets. b. 7 purses and 7 wallets. c. 10 purses and 6 wallets. d. 14 purses and 14 wallets.

B

Refer to Figure 3-5. If Hosne must work 0.5 hour to make each purse, then her production possibilities frontier is based on how many hours of work? a. 2 hours b. 5 hours c. 20 hours d. 50 hours

B

Refer to Figure 3-5. If the production possibilities frontier shown for Merve is for 8 hours of work, then how long does it take Merve to make one purse? a. 1/2 hour b. 2 hours c. 4 hours d. 8 hours

B

Refer to Figure 3-6. If the production possibilities frontiers shown are each for one day of work, then which of the following combinations of pies and tarts could Maxine and Daisy together not make in a given day? a. 2 pies and 25 tarts b. 10 pies and 22 tarts c. 12 pies and 15 tarts d. 15 pies and 16 tarts

B

Refer to Table 3-10. Assume that Japan and Korea each has 2400 hours available. If each country divides its time equally between the production of cars and airplanes, then total production is a. 40 cars and 8 airplanes. b. 64 cars and 16 airplanes. c. 80 cars and 16 airplanes. d. 128 cars and 32 airplanes.

B

Refer to Table 3-10. We could use the information in the table to draw a production possibilities frontier for Japan and a second production possibilities frontier for Korea. If we were to do this, measuring cars along the horizontal axis, then a. the slope of Japan's production possibilities frontier would be -5 and the slope of Korea's production possibilities frontier would be -3. b. the slope of Japan's production possibilities frontier would be -0.2 and the slope of Korea's production possibilities frontier would be -0.33. c. the slope of Japan's production possibilities frontier would be 0.2 and the slope of Korea's production possibilities frontier would be 0.33. d. the slope of Japan's production possibilities frontier would be 5 and the slope of Korea's production possibilities frontier would be 3.

B

Refer to Table 3-11. Assume that Max and Min each has 36 labor hours available. If each person divides his/her time equally between the production of mittens and hats, then total production is a. 18 mittens and 6 hats. b. 18 mittens and 7.5 hats. c. 16 mittens and 12 hats. d. 36 mittens and 15 hats.

B

Refer to Table 3-12. Which of the following points would not be on Barb's production possibilities frontier, based on a 40-hour week? a. (0 computers set up, 40 computers tested) b. (8 computers set up, 32 computers tested) c. (25 computers set up, 20 computers tested) d. (30 computers set up, 16 computers tested)

B

Refer to Table 3-13. Which of the following points would be on Juanita's production possibilities frontier, based on a 40-hour week? a. (120 cellular phones programmed, 295 cellular phones tested) b. (130 cellular phones programmed, 225 cellular phones tested) c. (140 cellular phones programmed, 155 cellular phones tested) d. Both (a) and (b) would be on Juanita's production possibilities frontier.

B

Refer to Table 3-13. Which of the following points would be on Shantala's production possibilities frontier, based on a 40-hour week? a. (120 cellular phones programmed, 250 cellular phones tested) b. (180 cellular phones programmed, 150 cellular phones tested) c. (240 cellular phones programmed, 600 cellular phones tested) d. More than one of the above would be on Shantala's production possibilities frontier

B

Refer to Table 3-14. Assume that Nick and Faldo each has 2 hours available. If each person divides his time equally between the production of wheat and cloth, then total production is a. 8 bushels of wheat and 15 yards of cloth. b. 14 bushels of wheat and 27 yards of cloth. c. 16 bushels of wheat and 30 yards of cloth. d. 28 bushels of wheat and 34 yards of cloth.

B

Refer to Table 3-15. Which of the following combinations of meat and potatoes could the rancher not produce in 40 hours? a. 2 pounds of meat and 3 pounds of potatoes. b. 3 pounds of meat and 3 pounds of potatoes. c. 4 pounds of meat and 2 pounds of potatoes. d. 5 pounds of meat and 2 pound of potatoes.

B

Refer to Table 3-17. If the production possibilities frontier is a straight line, then "?" must be a. 180. b. 200. c. 220. d. 240.

B

Refer to Table 3-2. We could use the information in the table to draw a production possibilities frontier for England and a second production possibilities frontier for Holland. If we were to do this, measuring milk along the horizontal axis, then a. the slope of England's production possibilities frontier would be -10/4 and the slope of Holland's production possibilities frontier would be -4/3. b. the slope of England's production possibilities frontier would be -4/10 and the slope of Holland's production possibilities frontier would be -3/4. c. the slope of England's production possibilities frontier would be 10/4 and the slope of Holland's production possibilities frontier would be 4/3. d. the slope of England's production possibilities frontier would be 4/10 and the slope of Holland's production possibilities frontier would be 3/4.

B

Refer to Table 3-3. Assume that England and France each has 40 labor hours available. If each country divides its time equally between the production of cheese and wine, then total production is a. 8 units of cheese and 10 units of wine b. 24 units of cheese and 15 units of wine c. 40 units of cheese and 20 units of wine d. 48 units of cheese and 30 units of wine

B

Refer to Table 3-3. We could use the information in the table to draw a production possibilities frontier for England and a second production possibilities frontier for France. If we were to do this, measuring cheese along the horizontal axis, then a. the slope of England's production possibilities frontier would be -4 and the slope of France's production possibilities frontier would be -0.4. b. the slope of England's production possibilities frontier would be -0.25 and the slope of France's production possibilities frontier would be -2.5. c. the slope of England's production possibilities frontier would be 0.25 and the slope of France's production possibilities frontier would be 2.5. d. the slope of England's production possibilities frontier would be 4 and the slope of France's production possibilities frontier would be 0.4

B

Refer to Table 3-5. Which of the following combinations of coolers and radios could Aruba produce in one 40- hour week? a. 3 coolers and 7 radios b. 5 coolers and 6 radios c. 11 coolers and 4 radios d. 13 coolers and 3 radios

B

Refer to Table 3-6. Assume that Zimbabwe and Portugal each has 180 machine minutes available. If each country divides its time equally between the production of toothbrushes and hairbrushes, then total production is a. 24 toothbrushes and 12 hairbrushes. b. 48 toothbrushes and 24 hairbrushes. c. 96 toothbrushes and 48 hairbrushes. d. 720 toothbrushes and 1440 hairbrushes.

B

Refer to Table 3-8. We could use the information in the table to draw a production possibilities frontier for England and a second production possibilities frontier for Spain. If we were to do this, measuring bread along the horizontal axis, then a. the slope of England's production possibilities frontier would be -0.67 and the slope of Spain's production possibilities frontier would be -0.5. b. the slope of England's production possibilities frontier would be -1.5 and the slope of Spain's production possibilities frontier would be -2. c. the slope of England's production possibilities frontier would be -.75 and the slope of Spain's production possibilities frontier would be -1. d. the slope of England's production possibilities frontier would be -2 and the slope of Spain's production possibilities frontier would be -.5.

B

Refer to Table 3-8. Which of the following combinations of cheese and bread could Spain produce in 24 hours? a. 4 units of cheese and 3 units of bread. b. 6 units of cheese and 1 units of bread. c. 7 units of cheese and 1.5 units of bread. d. 3 units of cheese and 3 units of bread.

B

Refer to Table 3-9. We could use the information in the table to draw a production possibilities frontier for Maya and a second production possibilities frontier for Miguel. If we were to do this, measuring toasters along the horizontal axis, then a. the slope of Maya's production possibilities frontier would be -2 and the slope of Miguel's production possibilities frontier would be -2. b. the slope of Maya's production possibilities frontier would be -0.5 and the slope of Miguel's production possibilities frontier would be -0.5. c. the slope of Maya's production possibilities frontier would be -1.67 and the slope of Miguel's production possibilities frontier would be -1.67. d. the slope of Maya's production possibilities frontier would be -0.6 and the slope of Miguel's production possibilities frontier would be -0.6.

B

Refer to Table 3-9. Which of the following combinations of mixers and toasters could Maya produce in 60 hours? a. 5 mixers and 12 toasters. b. 6 mixers and 4 toasters. c. 7 mixers and 7 toasters. d. 8 mixers and 5 toasters.

B

Refer to Table 3-9. Which of the following combinations of mixers and toasters could Miguel not produce in 80 hours? a. 5 mixers and 6 toasters. b. 6 mixers and 5 toasters. c. 7 mixers and 2 toasters. d. 4 mixers and 8 toasters.

B

The most obvious benefit of specialization and trade is that they allow us to a. work more hours per week than we otherwise would be able to work. b. consume more goods than we otherwise would be able to consume. c. spend more money on goods that are beneficial to society, and less money on goods that are harmful to society. d. consume more goods by forcing people in other countries to consume fewer goods.

B

When an economist points out that you and millions of other people are interdependent, he or she is referring to the fact that we all a. rely upon the government to provide us with the basic necessities of life. b. rely upon one another for the goods and services we consume. c. have similar tastes and abilities. d. are concerned about one another's well-being

B

A production possibilities frontier is a straight line when a. the more resources the economy uses to produce one good, the fewer resources it has available to produce the other good. b. an economy is interdependent and engaged in trade instead of self-sufficient. c. the rate of tradeoff between the two goods being produced is constant. d. the rate of tradeoff between the two goods being produced depends on how much of each good is being produced.

C

A professor spends 10 hours per day giving lectures and writing papers. For the professor, a graph that shows his various possible mixes of output (lectures given per day and papers written per day) is called his a. line of tastes. b. trade-off curve. c. production possibilities frontier. d. consumption possibilities frontier.

C

An economy's production possibilities frontier is also its consumption possibilities frontier a. under all circumstances. b. under no circumstances. c. when the economy is self-sufficient. d. when the rate of tradeoff between the two goods being produced is constant.

C

Refer to Figure 3-2. If the production possibilities frontier shown is for 24 hours of production, then how long does it take Brazil to make one peanut? a. 1/10 hour b. 1/3 hour c. 3 hours d. 10 hours

C

Refer to Figure 3-2. If the production possibilities frontier shown is for two months of production, then which of the following combinations of peanuts and cashews could Brazil not produce in two months? a. 5 peanuts and 88 cashews b. 4 peanuts and 115 cashews c. 3 peanuts and 155 cashews d. 1 peanuts and 200 cashews

C

Refer to Figure 3-2. The fact that the line slopes downward reflects the fact that a. for Brazil, it is more costly to produce peanuts than it is to produce cashews. b. Brazil will produce more peanuts and fewer cashews as time goes by. c. Brazil faces a tradeoff between producing peanuts and producing cashews. d. Brazil should specialize in producing cashews.

C

Refer to Figure 3-3. If Arturo and Dina both spend all of their time producing tacos, then total production is a. 400 tacos and 0 burritos. b. 400 tacos and 250 burritos. c. 800 tacos and 0 burritos. d. 800 tacos and 500 burritos

C

Refer to Figure 3-3. If the production possibilities frontiers shown are each for one day of production, then which of the following combinations of tacos and burritos could Arturo and Dina together produce in a given day? a. 400 tacos and 350 burritos b. 500 tacos and 250 burritos c. 600 tacos and 150 burritos d. 700 tacos and 100 burritos

C

Refer to Figure 3-5. If Hosne and Merve both spend all of their time making wallets, then total production is a. 7 wallets. b. 8 wallets. c. 14 wallets. d. 28 wallets.

C

Refer to Figure 3-6. If Daisy must work 2.5 hours to make each pie, then her production possibilities frontier is based on how many hours of work? a. 6 hours b. 7.5 hours c. 37.5 hours d. 50 hours

C

Refer to Table 3-12. The number of minutes needed by Barb to test a computer is a. 36. b. 48. c. 60. d. 64.

C

Refer to Table 3-12. Which of the following points would not be on Jim's production possibilities frontier, based on a 40-hour week? a. (0 computers set up, 60 computers tested) b. (40 computers set up, 30 computers tested) c. (60 computers set up, 12 computers tested) d. (72 computers set up, 6 computers tested)

C

Refer to Table 3-15. Assume that the farmer and the rancher each has 40 labor hours available. If each person divides his time equally between the production of meat and potatoes, then total production is a. 5 pounds of meat and 4 pounds of potatoes. b. 6 pounds of meat and 7.5 pounds of potatoes. c. 7.5 pounds of meat and 6 pounds of potatoes. d. 10 pounds of meat and 8 pounds of potatoes.

C

Refer to Table 3-15. Which of the following combinations of meat and potatoes could the farmer produce in 40 hours? a. 1 pound of meat and 7 pounds of potatoes. b. 2 pounds of meat and 5 pounds of potatoes. c. 3 pounds of meat and 3 pounds of potatoes. d. 4 pounds of meat and 2 pounds of potatoes.

C

Refer to Table 3-16. If the production possibilities frontier is a straight line, then "?" must be a. 200. b. 300. c. 400. d. 500.

C

Refer to Table 3-18. If the production possibilities frontier is a straight line, then "?" must be a. 150. b. 225. c. 300. d. 375

C

Refer to Table 3-3. Which of the following combinations of cheese and wine could France produce in 40 hours? a. 2 units of cheese and 20 units of wine b. 4 units of cheese and 15 units of wine c. 6 units of cheese and 5 units of wine d. 8 units of cheese and 20 units of wine

C

Refer to Table 3-4. Which of the following combinations of wheat and beef could Andrea produce in one 8-hour day? a. 16 bushels of wheat and 32 pounds of beef b. 9 bushels of wheat and 25 pounds of beef c. 7 bushels of wheat and 15 pounds of beef d. 10 bushels of wheat and 13 pounds of beef

C

Refer to Table 3-5. Assume that Aruba and Iceland each has 80 labor hours available. If each country divides its time equally between the production of coolers and radios, then total production is a. 28 coolers and 50 radios. b. 30 coolers and 9 radios. c. 60 coolers and 18 radios. d. 120 coolers and 36 radios.

C

Refer to Table 3-7. Which of the following combinations of meat and potatoes could the rancher not produce in 24 hours? a. 5 pounds of meat and 1 pounds of potatoes. b. 2 pounds of meat and 2 pounds of potatoes. c. 1 pounds of meat and 3 pounds of potatoes. d. 4 pounds of meat and 1 pound of potatoes.

C

Refer to Table 3-8. Which of the following combinations of cheese and bread could England not produce in 24 hours? a. 5 units of cheese and 3 units of bread. b. 6 units of cheese and 4 units of bread. c. 8 units of cheese and 3 units of bread. d. 7 units of cheese and 2 units of bread.

C

The production possibilities frontier illustrates a. the combinations of output that an economy should produce. b. the combinations of output that an economy should consume. c. the combinations of output that an economy can produce. d. All of the above are correct.

C

A production possibilities frontier is bowed outward when a. the more resources the economy uses to produce one good, the fewer resources it has available to produce the other good. b. an economy is self-sufficient instead of interdependent and engaged in trade. c. the rate of tradeoff between the two goods being produced is constant. d. the rate of tradeoff between the two goods being produced depends on how much of each good is being produced

D

Consider two individuals — Marquis and Serena — each of whom would like to wear sweaters and eat tasty food. The gains from trade between Marquis and Serena are most obvious in which of the following cases? a. Marquis is very good at knitting sweaters and at cooking tasty food, but Serena's skills in both of these activities are very poor. b. Marquis and Serena both are very good at cooking tasty food, but neither has the necessary skills to knit a sweater. c. Marquis's cooking and knitting skills are very poor, and Serena's cooking and knitting skills are also very poor. d. Marquis's skills are such that he can produce only sweaters, and Serena's skills are such that she can produce only tasty food.

D

Olivia bakes cakes and Andrew grows corn. Olivia and Andrew both like to eat cake and eat corn. In which of the following cases is it impossible for both Olivia and Andrew to benefit from trade? a. Olivia cannot grow corn and Andrew cannot bake cakes. b. Olivia is better than Andrew at baking cakes and Andrew is better than Olivia at growing corn. c. Olivia is better than Andrew at baking cakes and at growing corn. d. Both Olivia and Andrew can benefit from trade in all of the above cases.

D

Refer to Figure 3-2. If the production possibilities frontier shown is for two months of production, then which of the following combinations of peanuts and cashews could Brazil produce in two months? a. 7 peanuts and 35 cashews b. 5 peanuts and 100 cashews c. 2 peanuts and 190 cashews d. 3 peanuts and 150 cashews

D

Refer to Figure 3-3. If the production possibilities frontiers shown are each for one day of production, then which of the following combinations of tacos and burritos could Arturo and Dina together not produce in a given day? a. 200 tacos and 400 burritos b. 300 tacos and 350 burritos c. 400 tacos and 300 burritos d. 600 tacos and 250 burritos

D

Refer to Figure 3-4. If Lisa and Bryce both spend all of their time producing jackets, then total production is a. 2 jackets. b. 6 jackets. c. 24 jackets. d. 26 jackets

D

Refer to Figure 3-6. If Maxine and Daisy each divides her time equally between making pies and making tarts, then total production is a. 6 pies and 10 tarts. b. 7.5 pies and 3 tarts. c. 7.5 pies and 10 tarts. d. 13.5 pies and 13 tarts.

D

Refer to Figure 3-7. If Bintu must work 2 hours to make each cup, then her production possibilities frontier is based on how many hours of work? a. 2 hours b. 4 hours c. 8 hours d. 16 hours

D

Refer to Table 3-11. Which of the following points would be on Min's production possibilities frontier, based on a 36-hour production period? a. (3 mittens, 8 hats) b. (8 mittens, 5 hat) c. (10 mittens, 4 hats) d. More than one of the above would be on Min's production possibilities frontier

D

Refer to Table 3-11. Which of the following points would not be on Max's production possibilities frontier, based on a 36-hour production period? a. (18 mittens, 0 hats) b. (12 mittens, 2 hats) c. (6 mittens, 4 hats) d. (2 mittens, 6 hats)

D

Refer to Table 3-13. The number of minutes needed by Juanita to program a cellular phone is a. 4. b. 5. c. 7.5. d. 15.

D

Refer to Table 3-16. If the production possibilities frontier is bowed outward, then "?" could be a. 200. b. 300. c. 400. d. 500.

D

Refer to Table 3-18. If the production possibilities frontier is bowed outward, then "?" could be a. 150. b. 225. c. 300. d. 375

D

Refer to Table 3-3. Which of the following combinations of cheese and wine could England not produce in 40 hours? a. 12 units of cheese and 7 units of wine b. 16 units of cheese and 6 units of wine c. 20 units of cheese and 5 units of wine d. 26 units of cheese and 4 units of wine

D

Suppose there are only two people in the world. Each person's production possibilities frontier also represents his or her consumption possibilities when a. neither person faces trade-offs. b. the frontiers are straight lines. c. the frontiers are bowed out. d. they choose not to trade with one another.

D

When can two countries gain from trading two goods? a. when the first country can only produce the first good and the second country can only produce the second good b. when the first country can produce both goods, but can only produce the second good at great cost, and the second country can produce both goods, but can only produce the first good at great cost c. when the first country is better at producing both goods and the second country is worse at producing both goods d. Two countries could gain from trading two goods under all of the above conditions.

D

Which of the following is not a reason people choose to depend on others for goods and services? a. to improve their lives b. to allow them to enjoy a greater variety of goods and services c. to consume more of each good without working any more hours d. to allow people to produce outside their production possibilities frontiers

D