Question :
161.RefertoFigure3-15.IfPerryandJordanswitchfromeachpersondividingtheirtimeequallybetweentheproductionofnovelsandpoemstoeachpersonspendingalloftheirtimeproducingthegoodinwhichtheyhaveacomparativeadvantage,thentotalprod : 1262264
161.RefertoFigure3-15.IfPerryandJordanswitchfromeachpersondividingtheirtimeequallybetweentheproductionofnovelsandpoemstoeachpersonspendingalloftheirtimeproducingthegoodinwhichtheyhaveacomparativeadvantage,thentotalproductionofnovelswillincreaseby
a.1.
b.2.
c.3.
d.4.
162.RefertoFigure3-15.IfPerryandJordaneachspendsallofhis/hertimeproducingthegoodinwhichs/hehasacomparativeadvantageandtradetakesplaceatapriceof1novelfor7poems,then
a.PerryandJordanwillbothgainfromthistrade.
b.Perrywillgainfromthistrade,butJordanwillnot.
c.Jordanwillgainfromthistrade,butPerrywillnot.
d.neitherPerrynorJordanwillgainfromthistrade.
Figure3-16
Hosne’sProductionPossibilitiesFrontierMerve’sProductionPossibilitiesFrontier
163.RefertoFigure3-16.Hosne’sopportunitycostofonepurseis
a.4/5walletandMerve’sopportunitycostofonepurseis2/3wallet.
b.4/5walletandMerve’sopportunitycostofonepurseis3/2wallets.
c.5/4walletsandMerve’sopportunitycostofonepurseis2/3wallet.
d.5/4walletsandMerve’sopportunitycostofonepurseis3/2wallets.
164.RefertoFigure3-16.Hosne’sopportunitycostofonewalletis
a.4/5purseandMerve’sopportunitycostofonewalletis2/3purse.
b.4/5purseandMerve’sopportunitycostofonewalletis3/2purses.
c.5/4pursesandMerve’sopportunitycostofonewalletis2/3purse.
d.5/4pursesandMerve’sopportunitycostofonewalletis3/2purses.
165.RefertoFigure3-16.Hosnehasanabsoluteadvantageintheproductionof
a.pursesandMervehasanabsoluteadvantageintheproductionofwallets.
b.walletsandMervehasanabsoluteadvantageintheproductionofpurses.
c.bothgoodsandMervehasanabsoluteadvantageintheproductionofneithergood.
d.neithergoodandMervehasanabsoluteadvantageintheproductionofbothgoods.
166.RefertoFigure3-16.Hosnehasacomparativeadvantageintheproductionof
a.pursesandMervehasacomparativeadvantageintheproductionofwallets.
b.walletsandMervehasacomparativeadvantageintheproductionofpurses.
c.bothgoodsandMervehasacomparativeadvantageintheproductionofneithergood.
d.neithergoodandMervehasacomparativeadvantageintheproductionofbothgoods.
167.RefertoFigure3-16.Hosneshouldspecializeintheproductionof
a.purses.
b.wallets.
c.bothgoods.
d.neithergood.
168.RefertoFigure3-16.Merveshouldspecializeintheproductionof
a.purses.
b.wallets.
c.bothgoods.
d.neithergood.
169.RefertoFigure3-16.IfHosneandMerveswitchfromeachpersondividinghertimeequallybetweentheproductionofpursesandwalletstoeachpersonspendingallofhertimeproducingthegoodinwhichshehasacomparativeadvantage,thentotalproductionofpurseswillincreaseby
a.2.
b.3.
c.5.
d.10.
170.RefertoFigure3-16.AtwhichofthefollowingpriceswouldbothHosneandMervegainfromtradewitheachother?
a.5walletsfor1.25purses
b.5walletsfor2.5purses
c.5walletsfor3.75purses
d.HosneandMervecouldnotbothgainfromtradewitheachotheratanyprice.
Figure3-17
Maxine’sProductionPossibilitiesFrontierDaisy’sProductionPossibilitiesFrontier