Question : 161.ThecountryofGeranceproducestwogoods,carsandwine.Lastyear,itproduced1,000carsand15,000casesofwine.Thisyear,itproduced1,300carsand20,000casesofwine.Givennootherinformation,whichof thefollowingeventscouldnotexplainthi : 1261905

 

161.ThecountryofGeranceproducestwogoods,carsandwine.Lastyear,itproduced1,000carsand15,000casesofwine.Thisyear,itproduced1,300carsand20,000casesofwine.Givennootherinformation,whichof thefollowingeventscouldnotexplainthischange?

a.Geranceexperiencedareductioninunemployment.

b.Geranceexperiencedanimprovementincar-makingtechnology.

c.Geranceacquiredmoreresources.

d.Anyoftheseeventscouldexplainthechange.

162.Supposeaneconomyproducestwogoods,foodandmachines.Thiseconomyalwaysoperatesonitsproductionpossibilitiesfrontier.Lastyear,itproduced1000unitsoffoodand47machines.Thisyear,itisproducing1050unitsoffoodand52machines.Whichofthefollowingeventscouldnotexplaintheincreaseinoutput?

a.areductioninunemployment

b.anincreaseinavailablelabor

c.animprovementintechnology

d.Anyoftheseeventscouldexplaintheincreaseinoutput.

163.Supposeaneconomyproducestwogoods,foodandmachines.Thiseconomyalwaysoperatesonitsproductionpossibilitiesfrontier.Lastyear,itproduced1000unitsoffoodand47machines.Thisyearitexperiencedatechnologicaladvanceinitsmachine-makingindustry.Asaresult,thisyearthesocietywantstoproduce1050unitsoffoodand47machines.Whichofthefollowingstatementsiscorrect?

a.Becausethetechnologicaladvanceoccurredinthemachine-makingindustry,itwillnotbepossibletoincreasefoodproductionwithoutreducingmachineproductionbelow47.

b.Becausethetechnologicaladvanceoccurredinthemachine-makingindustry,increasesinoutputcanonlyoccurinthemachineindustry.

c.Inordertoincreasefoodproductioninthesecircumstanceswithoutreducingmachineproduction,theeconomymustreduceinefficiencies.

d.Thetechnologicaladvancereducedtheamountofresourcesneededtoproduce47machines,sotheseresourcescouldbeusedtoproducemorefood.

164.Supposeaneconomyonlyproducestwogoods,robotsandicecream.Lastmonth,theeconomyproduced10robotsand200gallonsoficecream.Thismonth,thesameeconomyproduced15robotsand240gallonsoficecream.Whichofthefollowingstatementscouldexplainthischange?

a.Thismonth,theeconomyreducedtheunemploymentofitsresources.

b.Thismonth,theeconomyexperiencedanimprovementintechnology.

c.Thismonth,theeconomyexperiencedanincreaseinresources

d.Alloftheabovearecorrect.

165.Acertainproductionpossibilitiesfrontiershowsproductionpossibilitiesfortwogoods,jewelryandclothing.Whichofthefollowingconceptscannotbeillustratedbythismodel?

a.theflowofdollarsbetweensellersofjewelryandclothingandbuyersofjewelryandclothing

b.thetradeoffbetweenproductionofjewelryandproductionofclothing

c.theopportunitycostofclothingintermsofjewelry

d.theeffectofeconomicgrowthonproductionpossibilitiesinvolvingjewelryandclothing

166.Theproductionpossibilitiesfrontierisusedtoillustratesomebasiceconomicideas,including

a.scarcity.

b.opportunitycost.

c.economicgrowth.

d.Alloftheabovearecorrect.

Table2-3

 

 

ProductionPossibilitiesforFootville

 

Shoes

Socks

800

0

600

400

400

700

200

900

0

1000

 

167.RefertoTable2-3.WhatistheopportunitycosttoFootvilleofincreasingtheproductionofshoesfrom400to600?

a.400socks

b.300socks

c.200socks

d.100socks

168.RefertoTable2-3.Whichofthefollowingstatementsiscorrect?

a.Theopportunitycostofanadditional200shoesisconstantat200socks.

b.Theopportunitycostofanadditional200shoesisconstantat300socks.

c.Footville’sproductionpossibilitiesfrontierisastraight,downward­slopingline.

d.Theopportunitycostofanadditional200shoesincreasesasmoresocksareproduced.

Table2-4

 

 

ProductionPossibilitiesforPicnicland

 

Hotdogs

Burgers

1800

0

1350

450

900

750

450

975

0

1125

 

169.RefertoTable2-4.WhatistheopportunitycosttoPicniclandofincreasingtheproductionofhotdogsfrom450to900?

a.150burgers

b.225burgers

c.300burgers

d.450burgers

170.RefertoTable2-4.WhatistheopportunitycosttoPicniclandofincreasingtheproductionofburgersfrom450to750?

a.150hotdogs

b.225hotdogs

c.300hotdogs

d.450hotdogs

 

 

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