Question : 21.If we consider the reality that each worker has different : 1378978

21.If we consider the reality that each worker has different skills, then the production possibilities frontier:

A. would display a constant opportunity cost of a good as more of that good is produced.

B. would display a decreasing opportunity cost of a good as more of that good is produced.

C. would display an increasing opportunity cost of a good as more of that good is produced.

D. cannot be drawn, as too many variables would need to be taken into consideration.

22.A more realistic production possibilities curve:

A. is more convex than one assuming constant opportunity costs.

B. is more convex than one assuming increasing opportunity costs.

C. is more concave than one assuming constant opportunity costs.

D. is straighter than one assuming constant opportunity costs.

23. 

Consider the production possibilities frontier in the figure shown. As more and more cars are produced:

A. the opportunity cost of cars decreases.

B. the opportunity cost of cars stays the same.

C. the opportunity cost of cars increases.

D. the opportunity costs of cars decreases then increases.

24. 

Consider the production possibilities frontier in the figure shown. As more and more cigars are produced:

A. the opportunity cost of cars decreases.

B. the opportunity cost of cars stays the same.

C. the opportunity cost of cars increases.

D. the opportunity costs of cars decreases then increases.

25. 

Consider the production possibilities frontier in the figure shown. The opportunity cost of moving from point A to point B:

A. is 5 cars per cigar.

B. is 10 cars per cigar.

C. is 5 cigars per car.

D. is 10 cigars per car.

26. 

Consider the production possibilities frontier in the figure shown. The opportunity cost of cars when moving from point B to point C:

A. is greater than the opportunity cost of cars when moving from point A to point B.

B. is less than the opportunity cost of cars when moving from point A to point B.

C. is greater than the opportunity cost of cars when moving from any other two points.

D. None of these statements is true.

27.Choosing to produce at any point within a production possibilities frontier:

A. is inefficient, meaning the society would not be using all its available resources in their best possible use.

B. is efficient, meaning the society would be using all its available resources in their best possible use.

C. is unobtainable, meaning the society cannot produce that combination of goods.

D. is efficient, meaning the society would be using all its available resources, though not in their best use.

28.The production possibilities frontier:

A. can show all possible combinations of goods, but not tell us which society should choose.

B. can show all possible combinations of goods, and which society should choose.

C. cannot show all possible combinations of goods because society is typically inefficient.

D. can show us which possible combinations of goods society should choose, but cannot tell us which points will be inefficient.

29.If society were to experience an increase in its available resources:

A. its production possibilities frontier would shift out.

B. its production possibilities frontier would shift in.

C. its production possibilities frontier would not move, but society could change its production choice.

D. its production possibilities frontier would become convex.

30. 

Consider a society facing the production possibilities curves in the figure shown. What is the most likely cause of a society moving from PPF1 to PPF2?

A. More workers

B. Better printing press technology

C. A desire to read more books

D. Better sewing technology