Question : 31) Refer to Figure 2.1. The shape of Macroland’s production : 1381033

Economics

31) Refer to Figure 2.1. The shape of Macroland’s production possibility frontier shows

A) increasing opportunity costs.

B) constant opportunity costs.

C) decreasing opportunity costs.

D) random opportunity costs.

32) The production possibility frontier is used to illustrate the concept of

A) the laissez-faire economy.

B) opportunity costs.

C) equilibrium.

D) aggregate demand.

Refer to the information provided in Figure 2.2 below to answer the questions that follow.

Figure 2.2

33) Refer to Figure 2.2. Point B represents a situation of

A) full employment but production inefficiency.

B) less than full employment but production efficiency.

C) both full resource employment and production efficiency.

D) less than full employment and production inefficiency.

34) Refer to Figure 2.2. Microland is currently operating at Point B. You correctly deduce that

A) in Microland, all resources are fully employed and there are no production inefficiencies.

B) Microland has achieved a position of inefficiency.

C) Microland has recently experienced some type of technological breakthrough.

D) Microland has overcome the problem of scarcity.

35) The production possibility frontier is a graph that shows

A) all the combinations of goods and services that are consumed over time if all of society’s resources are used efficiently.

B) the amount of goods and services consumed at various average price levels.

C) the rate at which an economy’s output will grow over time if all resources are used efficiently.

D) all the combinations of goods and services that can be produced if all of society’s resources are used efficiently.

36) Production inefficiency occurs

A) only when an economy produces underneath its production possibility frontier.

B) only when an economy produces at the wrong point on the production possibility frontier.

C) either when an economy produces underneath the production possibility frontier or when the economy is producing the wrong combination of goods on the production possibility frontier.

D) only when the economy produces outside the production possibility frontier.

37) An economy that is producing on the production possibility frontier at some point other than the output of efficient allocation is

A) efficient, as it is on the production possibility frontier.

B) inefficient, as the combination of goods and services produced is not what people want.

C) efficient, as the economy is producing goods at the lowest possible cost.

D) inefficient, as that combination of goods could be produced at a lower cost if more efficient technology were employed.

38) If resources are combined efficiently in production, then the society

A) is producing at the most-desirable point on the production possibility frontier.

B) is producing at a point on the production possibility frontier but not necessarily at the most-desirable point.

C) is producing at a point outside the production possibility frontier.

D) is experiencing economic growth.

39) If an economy begins to use its resources more efficiently, it will move

A) closer to its ppf.

B) farther away from its ppf.

C) from a point along its ppf to a point outside its ppf.

D) from one point to another point along its ppf.

40) The value of the slope of a society’s production possibility frontier is called its

A) marginal rate of substitution.

B) inflation rate.

C) unemployment rate.

D) marginal rate of transformation.

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July 1, 2023

Personal Employment Packet (100 points)

The goal of this assignment is to construct job application materials in response to a job announcement of your choice. You may research a job that you are interested in obtaining in the near future or after you graduate college. You will have to provide a link to the job announcement (please be sure that anybody can access the link and not just people who can sign in to a particular job search engine) or you can provide a PDF or image of the announcement. You will not earn credit for the resume nor the cover letter if you do not provide a job announcement. This packet will help you construct materials and build skills that will be necessary when applying for a position.

For tips on resumes, cover letters and interview skills see “How Do I Prepare for My Job Search?” http://www.csun.edu/career/students/job_search.htm

The packet includes two (2) parts:

Resume (50 points): 1 page (maximum) can be Reverse Chronological or Functional format (see Technical Communications for examples). Your resume must include the following:

Your name and contact information at the top
Work experience (if applicable)
Volunteer experience (if applicable)
Education
Computer proficiency
Professional skills
Objective (optional)

Due Date: Sunday, November 22 by 11:59pm

Cover Letter (50 points): 1 page (maximum) in length in proper business letter format (see Technical Communications for letter format. Also see “Sample Cover Letter” on Moodle.) Your letter will include the following:

Heading with your name and contact information
Name of contact person and address of company
Date
Greeting
Express the position for which you are applying
Where you learned about the position
Why you would be a good candidate for the position
Any specific, pertinent experience or education that would demonstrate how you fit the company’s needs
Building trust statement
Closing

July 1, 2023

Personal Employment Packet (100 points)

For tips on resumes, cover letters and interview skills see “How Do I Prepare for My Job Search?” http://www.csun.edu/career/students/job_search.htm

The packet includes two (2) parts:

Resume (50 points): 1 page (maximum) can be Reverse Chronological or Functional format (see Technical Communications for examples). Your resume must include the following:

Your name and contact information at the top
Work experience (if applicable)
Volunteer experience (if applicable)
Education
Computer proficiency
Professional skills
Objective (optional)

Due Date: Sunday, November 22 by 11:59pm

Cover Letter (50 points): 1 page (maximum) in length in proper business letter format (see Technical Communications for letter format. Also see “Sample Cover Letter” on Moodle.) Your letter will include the following:

Heading with your name and contact information
Name of contact person and address of company
Date
Greeting
Express the position for which you are applying
Where you learned about the position
Why you would be a good candidate for the position
Any specific, pertinent experience or education that would demonstrate how you fit the company’s needs
Building trust statement
Closing

July 1, 2023

Personal Employment Packet (100 points)

For tips on resumes, cover letters and interview skills see “How Do I Prepare for My Job Search?” http://www.csun.edu/career/students/job_search.htm

The packet includes two (2) parts:

Resume (50 points): 1 page (maximum) can be Reverse Chronological or Functional format (see Technical Communications for examples). Your resume must include the following:

Your name and contact information at the top
Work experience (if applicable)
Volunteer experience (if applicable)
Education
Computer proficiency
Professional skills
Objective (optional)

Due Date: Sunday, November 22 by 11:59pm

Cover Letter (50 points): 1 page (maximum) in length in proper business letter format (see Technical Communications for letter format. Also see “Sample Cover Letter” on Moodle.) Your letter will include the following:

Heading with your name and contact information
Name of contact person and address of company
Date
Greeting
Express the position for which you are applying
Where you learned about the position
Why you would be a good candidate for the position
Any specific, pertinent experience or education that would demonstrate how you fit the company’s needs
Building trust statement
Closing

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Question : 31) Refer to Figure 2.1. The shape of Macroland’s production : 1381033

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