Question : 41) If the production possibilities frontier between two goods were : 1226371

 

41) If the production possibilities frontier between two goods were a straight line, then the opportunity cost of one good in terms of another would be

A) constant.

B) increasing.

C) decreasing.

D) zero.

E) either constant, increasing, or decreasing but more information is needed to determine which.

 

42) If the production possibilities frontier between two goods is a straight line, then the

A) opportunity cost is not a ratio.

B) resources are equally productive in both goods.

C) line does not qualify as a production possibilities frontier because the unattainable production points are too close to the inefficient production points.

D) Both answers A and C are correct.

E) Both answers A and B are correct.

43) As an economy moves down along a straight line production possibilities frontier, what happens to the opportunity cost of producing the good on the horizontal axis?

A) It remains constant.

B) It decreases.

C) It increases.

D) Above the midpoint it decreases until it equals 1 at the midpoint and then it increases.

E) None of these depict what happens to opportunity cost.

 

44) If the production possibilities frontier between bottled water and water in a jug is a straight line, which of the following statements would be correct?

A) A large amount of unemployment must exist.

B) Resources are equally productive at producing either product.

C) There is no tradeoff between the two goods.

D) There is no decrease in the production of one good when the production of the other is increased.

E) Producing more of one good gives the economy a free lunch.

 

 

45) The table above shows the production possibilities for an economy. Drawing a PPF with books on the vertical axis and bread on the horizontal axis, a movement from possibility B to possibility C to possibility D shows the opportunity cost of ________ moving down along the PPF.

A) books decreasing

B) bread decreasing

C) bread increases

D) books is constant

E) books and bread are both increasing

46) The table above shows the production possibilities for an economy. The opportunity cost of a loaf of bread is ________ when moving from possibility B to possibility C.

A) 1/2 of a book

B) 2 books

C) 200 books

D) 100 loaves of bread

E) 1 loaf of bread

 

 

47) The table above presents the production possibilities frontier for a nation. Using the information in the table, moving from possibility C to B means that

A) 4 units of capital goods are given up to get 55 units of consumption goods.

B) 2 units of capital goods are given up to get 55 additional units of consumption goods.

C) 4 units of capital goods are given up to get 10 additional units of consumption goods.

D) 4 units of capital goods are given up to get 45 units of consumption goods.

E) 2 units of capital goods are given up to get 10 additional units of consumption goods.

 

48) The table above presents the production possibilities frontier for a nation. Using the information in the table, when moving from possibility C to D, the cost of 1 unit of a capital good in terms of the consumption goods forgone is ________ consumption goods per capital good.

A) 25

B) 15

C) 20

D) 10

E) an undefined amount of

49) The table above presents the production possibilities frontier for a nation. Using the information in the table, when moving from possibility A to B to C to ultimately E, the cost of a unit of capital goods in terms of consumption goods

A) increases.

B) decreases.

C) remains the same.

D) decreases from possibility A to C, and then increases from possibility C to D.

E) cannot be calculated.

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more