Question : 61) Refer to Figure 2-4. Consider the following events: a.a decrease : 1245009

 

61) Refer to Figure 2-4. Consider the following events:

a.a decrease in the unemployment rate

b.general technological advancement

c.an increase in consumer wealth

Which of the events listed above could cause a movement from V to X?

A) a only

B) a and b only

C) b and c only

D) a, b, and c

62) Refer to Figure 2-4. Consider the following events:

a.a reduction in the patent protection period to no more than 2 years

b.a war that destroys a substantial portion of a nation’s capital stock

c.the lack of secure and enforceable property rights system

Which of the events listed above could cause a movement from W to V?

A) a only

B) a and b only

C) a and c only

D) b and c only

E) a, b, and c

63) Refer to Figure 2-4. A movement from ________ could occur because of additional government restrictions toward allowing immigrant labor.

A) X to W

B) Y to X

C) V to W

D) W to X

64) Refer to Figure 2-4. A movement from ________ is the result of additional government restrictions on the pollution that results from plastic production.

A) X to V

B) X to W

C) Z to W

D) Z to Y

65) Refer to Figure 2-4. Consider the following events:

a.a decrease in the unemployment rate

b.an increase in technology with respect to both food and plastic production

c.a war that kills a significant portion of a nation’s population

Which of the events listed above could cause a movement from W to Y?

A) a, b and c

B) a and b only

C) a and c only

D) b only

E) c only

66) Refer to Figure 2-4. Consider the following movements:

a.from point V to point W

b.from point W to point Y

c.from point Y to point Z

 

Which of the movements listed above represents advancements in technology with respect to only plastic production?

A) a, b, and c

B) b and c only

C) b only

D) c only

67) Refer to Figure 2-4. Consider the following events:

a.an increase in the unemployment rate

b.general technological advancement

c.an increase in consumer wealth

Which of the events listed above could cause a movement from Z to V?

A) a only

B) a and b only

C) b and c only

D) a, b, and c

68) Refer to Figure 2-4. Consider the following events:

a.an increase in the patent protection period to 75 years

b.a hurricane that destroys a substantial portion of a nation’s capital stock

c.the implementation of a secure and enforceable property rights system

Which of the events listed above could cause a movement from W to Z?

A) a only

B) a and b only

C) a and c only

D) b and c only

E) a, b, and c

69) The Great Depression of the 1930s with a large number of workers and factories unemployed would be represented in a production possibilities frontier graph by

A) a point inside the frontier.

B) a point outside the frontier.

C) a point on the frontier.

D) an intercept on either the vertical or the horizontal axis.

70) Suppose there is no unemployment in the economy and society decides that it wants more of one good. Which of the following statements is true?

A) It can only achieve this with an advance in technology.

B) It can increase output without giving up another good.

C) It can only achieve this with an increase in resource supplies.

D) It will have to give up production and consumption of some other good.