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External link to Question : Figure10-13.Onthegraph,QrepresentsthequantityofplasticsandPrepresentsthepriceofplastics. Multiple Choice – Section 02:  Public Policies t : 1261389
Economics

Question : Figure10-13.Onthegraph,QrepresentsthequantityofplasticsandPrepresentsthepriceofplastics. Multiple Choice – Section 02:  Public Policies t : 1261389

  Figure10-13.Onthegraph,QrepresentsthequantityofplasticsandPrepresentsthepriceofplastics.     Multiple Choice – Section 02:  Public Policies toward Externalities 1.RefertoFigure10-13.Eachunitofplasticsthatisproducedresultsinanexternal a.costof$6. b.costof$8. c.benefitof$6. d.benefitof$8. 2.RefertoFigure10-13.Inordertoreachthesocialoptimum,thegovernmentcould a.imposeataxof$2perunitonplastics. b.imposeataxof$6perunitonplastics. c.imposeataxof$8perunitonplastics. d.offerasubsidyof$6perunitonplastics. 3.RefertoFigure10-13.If250unitsofplasticsareproducedandconsumed,thenthe a.socialoptimumhasbeenreached. b.marketequilibriumhasbeenreached. c.negativeexternalityassociatedwithplasticshasbeeneliminated. d.positiveexternalityassociatedwithplasticshasbeeneliminated. 4.RefertoFigure10-13.If325unitsofplasticsareproducedandconsumed,thenthe a.socialoptimumhasbeenreached. b.marketequilibriumhasbeenreached. c.governmentmusthaveimposedacorrectivetaxtoguidethemarkettothisoutcome. d.governmentmusthaveofferedacorrectivesubsidytoguidethemarkettothisoutcome. 5.RefertoFigure10-13.Ifthegovernmentimposedacorrectivetaxthatsuccessfullymovedthemarketfromthemarketequilibriumtothesocialoptimum,thentaxrevenueforthegovernmentwouldamountto a.$1,250. b.$1,600. c.$2,000. d.$2,500. Figure10-14 6.RefertoFigure10-14.Whichofthefollowingstatementsiscorrect? a.Toinducefirmstointernalizetheexternalityinthismarket,thegovernmentshouldimposeataxmeasuredbyP2-P0. b.Toinducefirmstointernalizetheexternalityinthismarket,thegovernmentshouldofferasubsidymeasuredbyP2-P0. c.Toinducefirmstointernalizetheexternalityinthismarket,thegovernmentshouldimposeataxmeasuredbyP2-P1. d.Thereisnoexternalityinthismarket. 7.SupposethatanMBAdegreecreatesnoexternalitybecausethebenefitsofanMBAareinternalizedbythestudentintheformofhigherwages.IfthegovernmentofferssubsidiesforMBAs,thenwhichofthefollowingstatementsiscorrect? a.TheequilibriumquantityofMBAswillequalthesociallyoptimalquantityofMBAs. b.TheequilibriumquantityofMBAswillbegreaterthanthesociallyoptimalquantityofMBAs. c.TheequilibriumquantityofMBAswillbelessthanthesociallyoptimalquantityofMBAs. d.Thereisnotenoughinformationtoanswerthequestion. 8.SupposethatanMBAdegreecreatesnoexternalitybecausethebenefitsofanMBAareinternalizedbythestudentintheformofhigherwages.IftherearenogovernmentsubsidiesforMBAs,thenwhichofthefollowingstatementsiscorrect? a.TheequilibriumquantityofMBAswillequalthesociallyoptimalquantityofMBAs. b.TheequilibriumquantityofMBAswillbegreaterthanthesociallyoptimalquantityofMBAs. c.TheequilibriumquantityofMBAswillbelessthanthesociallyoptimalquantityofMBAs. d.Thereisnotenoughinformationtoanswerthequestion. 9.Sincealmostallformsoftransportationproducesometypeofpollution, a.thegovernmentshouldbanalltransportation. b.thegovernmentshouldbanallpollution. c.societyhastoweighthecostandbenefitswhendecidinghowmuchpollutiontoallow. d.refrainfrominterveningbecausethemarketcanbestsolvethisproblem. 10.Someenvironmentalistsarguethatweshouldprotecttheenvironmentasmuchaspossible,regardlessofcost. a.lowerlevelsofnutrition,healthcare,andhousing b.alowerstandardofliving c.slowingorreversingtechnologicaladvancement d.theeliminationof allpollution […]

External link to Question : 10) The above figure shows the PPF for a country : 1240766
Economics

Question : 10) The above figure shows the PPF for a country : 1240766

      10) The above figure shows the PPF for a country that produces computers and computer factories. Which of the following would most likely shift the PPF from PPF0 in one year to PPF1 in the next? A) Nothing, because the PPF does not shift. B) Increase the production of computers from 9 million (at point C) to 11 million (at point B). […]

External link to Question : 61) An increase in expected future disposable income ________ consumption : 1227966
Economics

Question : 61) An increase in expected future disposable income ________ consumption : 1227966

    61) An increase in expected future disposable income ________ consumption expenditure and ________. A) increases; shifts the consumption function upward B) decreases; shifts the consumption function downward C) increases; shifts the consumption function downward D) decreases; shifts the consumption function upward E) increases; results in a movement upward along the consumption function   62) In Germany, expected future income increased during 2010. This […]

External link to Question : 11) As a result of trade, specialization in the Ricardian : 1303479
Economics

Question : 11) As a result of trade, specialization in the Ricardian : 1303479

    11) As a result of trade, specialization in the Ricardian model tends to be A) complete with constant costs and with increasing costs. B) complete with constant costs and incomplete with increasing costs. C) incomplete with constant costs and complete with increasing costs. D) incomplete with constant costs and incomplete with increasing costs. E) dependent on the specific opportunity costs involved in production. […]

External link to Question : 41. The payment of a cash dividend will be depicted the : 1291651
Economics

Question : 41. The payment of a cash dividend will be depicted the : 1291651

  41. The payment of a cash dividend will be depicted on the statement of cash flows as a: A. cash inflow from an operating activity.B. cash outflow for an investing activity.C. cash outflow for a financing activity.D. cash outflow for an operating activity.   42. Burrows Inc. had an outstanding loan at the beginning of 2011 totaling $50,000. During 2011, $16,800 was paid out related to this loan broken down as […]

External link to Question : 12) A country has a comparative advantage in the production : 1241428
Economics

Question : 12) A country has a comparative advantage in the production : 1241428

  12) A country has a comparative advantage in the production of a good if it can A) produce more of the good than another country. B) produce more of the good most efficiently. C) produce the good on and remain on its production possibilities frontier. D) tradeoff producing the good for another good. E) produce the good at the lowest opportunity cost. 13) Having […]

External link to Question : 15.5   Integrative Questions 1) Consider a short-run equilibrium in a perfectly : 1226181
Economics

Question : 15.5   Integrative Questions 1) Consider a short-run equilibrium in a perfectly : 1226181

  15.5   Integrative Questions   1) Consider a short-run equilibrium in a perfectly competitive market. Suppose that the firms’ average total cost and marginal cost schedules differ. In the short run, A) all firms in the market must be able to make an economic profit. B) all firms produce equal amounts of output. C) some firms might incur an economic loss, but still produce output. […]

External link to Question : 81) Consider monetary equilibrium and the monetary transmission mechanism. An : 1384460
Economics

Question : 81) Consider monetary equilibrium and the monetary transmission mechanism. An : 1384460

  81) Consider monetary equilibrium and the monetary transmission mechanism. An exogenous rise in the price level, with no change in the supply of money, will A) increase the demand for money and increase desired aggregate expenditure. B) increase the demand for money and decrease desired aggregate expenditure. C) decrease the demand for money and increase aggregate demand. D) decrease the demand for money and […]

External link to Question : 31. (p. 222) Bert Wong has decided to pursue a marketing research effort : 1242270
Economics

Question : 31. (p. 222) Bert Wong has decided to pursue a marketing research effort : 1242270

  31. (p. 222) Bert Wong has decided to pursue a marketing research effort to acquire information before his company makes a strategic relocation move to the West Coast. Which of the following marketing research process steps would be the first step that Bert’s company (and marketing researchers) should take as it embarks on the research effort?  A. Define the research problem and establish research objectives. B. Analyze, interpret, and […]

External link to Question : 71) Consider the following aggregate expenditure function: AE = $300 : 1384371
Economics

Question : 71) Consider the following aggregate expenditure function: AE = $300 : 1384371

  71) Consider the following aggregate expenditure function: AE = $300 billion + (0.87)Y. Assuming that we have no government, no international trade and desired investment is autonomous and is equal to $56 billion, then which of the following is the correct statement of the consumption function? A) C = $356 billion + (0.87)Y B) C = $356 billion + (0.13)Y C) C = $244 […]

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July 1, 2023
    

 

 

 

44) The figure above shows the production possibilities frontiers for the United Kingdom and France. What is the opportunity cost of one bushel of wheat in France?

A) 1/4 of a pound of fish

B) 4 pounds of fish

C) 1 pound of fish

D) 100 pounds of fish

E) 2 pounds of fish

45) The figure above shows the production possibilities frontiers for the United Kingdom and France. What is the opportunity cost of one bushel of wheat for the United Kingdom?

A) 1/4 of a pound of fish

B) 1/2 of a pound of fish

C) 1 pound of fish

D) 200 pounds of fish

E) 2 pounds of fish

 

46) The figure above shows the production possibilities frontiers for the United Kingdom and France. If the United Kingdom and France specialize and engage in trade, the United Kingdom will produce ________ and France will produce ________.

A) wheat; wheat

B) wheat; fish

C) fish; wheat

D) fish; fish

E) both wheat and fish; both wheat and fish

 

47) The figure above shows the production possibilities frontiers for the United Kingdom and France. If the United Kingdom and France specialize and engage in trade, the United Kingdom will export ________ and France will export ________.

A) wheat; wheat

B) wheat; fish

C) fish; wheat

D) fish; fish

E) nothing; nothing

48) What is gained when people engage in specialization and trade?

A) Specialization and trade allow people to consume outside their individual production possibilities frontiers.

B) Specialization and trade allow people to consume inside their production possibilities frontiers.

C) Specialization and trade allow people to consume at a point on their production possibilities frontiers.

D) Specialization and trade allow people to produce outside their individual production possibilities frontiers.

E) There are no gains from specialization and trade.

 

49) Gains from trade

A) occur when one party to the trade has an absolute advantage in both goods.

B) result in being able to consume beyond the trading individuals' production possibilities frontiers.

C) occur when people do not specialize.

D) occur when opportunity costs are equal.

E) always benefit one party but not the other party of any trade.

 

50) Consider the United States' production of soy beans and running shoes. If the United States has an absolute advantage in the production of both goods compared to China,

A) both countries can gain from trade.

B) only the United States can gain from trade.

C) only China can gain from trade.

D) each country will be able to produce at a point beyond its PPF.

E) only the United States will be able to operate beyond its PPF.

51) To achieve gains from trade, a country

A) needs to have an absolute advantage in the production of all goods.

B) specializes in the producing a good in which it has a lower opportunity cost.

C) must produce at a point beyond its PPF.

D) should produce at the midpoint of its PPF.

E) needs to have an absolute advantage in the production of at least one good.

 

52) Specialization and trade

A) does not benefit anyone.

B) allows nations to produce inside their individual production possibilities frontier.

C) allows nations to consume combinations of products that are outside their individual production possibilities frontier.

D) shifts the production possibilities frontier inward.

E) shifts the production possibilities frontier outward.

 

53) The United States is one of the richest nations in the world,

A) so it does not need to trade with poor nations in order to achieve any gains from trade.

B) so it might not have a comparative advantage in producing any goods.

C) but it can still benefit from specialization and trade.

D) so it must have a comparative advantage in the production of all goods.

E) so it must have an absolute advantage in the production of all goods.

 

 

 

default image
July 1, 2023
    

 

 

 

44) The figure above shows the production possibilities frontiers for the United Kingdom and France. What is the opportunity cost of one bushel of wheat in France?

A) 1/4 of a pound of fish

B) 4 pounds of fish

C) 1 pound of fish

D) 100 pounds of fish

E) 2 pounds of fish

45) The figure above shows the production possibilities frontiers for the United Kingdom and France. What is the opportunity cost of one bushel of wheat for the United Kingdom?

A) 1/4 of a pound of fish

B) 1/2 of a pound of fish

C) 1 pound of fish

D) 200 pounds of fish

E) 2 pounds of fish

 

46) The figure above shows the production possibilities frontiers for the United Kingdom and France. If the United Kingdom and France specialize and engage in trade, the United Kingdom will produce ________ and France will produce ________.

A) wheat; wheat

B) wheat; fish

C) fish; wheat

D) fish; fish

E) both wheat and fish; both wheat and fish

 

47) The figure above shows the production possibilities frontiers for the United Kingdom and France. If the United Kingdom and France specialize and engage in trade, the United Kingdom will export ________ and France will export ________.

A) wheat; wheat

B) wheat; fish

C) fish; wheat

D) fish; fish

E) nothing; nothing

48) What is gained when people engage in specialization and trade?

A) Specialization and trade allow people to consume outside their individual production possibilities frontiers.

B) Specialization and trade allow people to consume inside their production possibilities frontiers.

C) Specialization and trade allow people to consume at a point on their production possibilities frontiers.

D) Specialization and trade allow people to produce outside their individual production possibilities frontiers.

E) There are no gains from specialization and trade.

 

49) Gains from trade

A) occur when one party to the trade has an absolute advantage in both goods.

B) result in being able to consume beyond the trading individuals' production possibilities frontiers.

C) occur when people do not specialize.

D) occur when opportunity costs are equal.

E) always benefit one party but not the other party of any trade.

 

50) Consider the United States' production of soy beans and running shoes. If the United States has an absolute advantage in the production of both goods compared to China,

A) both countries can gain from trade.

B) only the United States can gain from trade.

C) only China can gain from trade.

D) each country will be able to produce at a point beyond its PPF.

E) only the United States will be able to operate beyond its PPF.

51) To achieve gains from trade, a country

A) needs to have an absolute advantage in the production of all goods.

B) specializes in the producing a good in which it has a lower opportunity cost.

C) must produce at a point beyond its PPF.

D) should produce at the midpoint of its PPF.

E) needs to have an absolute advantage in the production of at least one good.

 

52) Specialization and trade

A) does not benefit anyone.

B) allows nations to produce inside their individual production possibilities frontier.

C) allows nations to consume combinations of products that are outside their individual production possibilities frontier.

D) shifts the production possibilities frontier inward.

E) shifts the production possibilities frontier outward.

 

53) The United States is one of the richest nations in the world,

A) so it does not need to trade with poor nations in order to achieve any gains from trade.

B) so it might not have a comparative advantage in producing any goods.

C) but it can still benefit from specialization and trade.

D) so it must have a comparative advantage in the production of all goods.

E) so it must have an absolute advantage in the production of all goods.

 

 

 

default image
July 1, 2023
    

 

 

 

44) The figure above shows the production possibilities frontiers for the United Kingdom and France. What is the opportunity cost of one bushel of wheat in France?

A) 1/4 of a pound of fish

B) 4 pounds of fish

C) 1 pound of fish

D) 100 pounds of fish

E) 2 pounds of fish

45) The figure above shows the production possibilities frontiers for the United Kingdom and France. What is the opportunity cost of one bushel of wheat for the United Kingdom?

A) 1/4 of a pound of fish

B) 1/2 of a pound of fish

C) 1 pound of fish

D) 200 pounds of fish

E) 2 pounds of fish

 

46) The figure above shows the production possibilities frontiers for the United Kingdom and France. If the United Kingdom and France specialize and engage in trade, the United Kingdom will produce ________ and France will produce ________.

A) wheat; wheat

B) wheat; fish

C) fish; wheat

D) fish; fish

E) both wheat and fish; both wheat and fish

 

47) The figure above shows the production possibilities frontiers for the United Kingdom and France. If the United Kingdom and France specialize and engage in trade, the United Kingdom will export ________ and France will export ________.

A) wheat; wheat

B) wheat; fish

C) fish; wheat

D) fish; fish

E) nothing; nothing

48) What is gained when people engage in specialization and trade?

A) Specialization and trade allow people to consume outside their individual production possibilities frontiers.

B) Specialization and trade allow people to consume inside their production possibilities frontiers.

C) Specialization and trade allow people to consume at a point on their production possibilities frontiers.

D) Specialization and trade allow people to produce outside their individual production possibilities frontiers.

E) There are no gains from specialization and trade.

 

49) Gains from trade

A) occur when one party to the trade has an absolute advantage in both goods.

B) result in being able to consume beyond the trading individuals' production possibilities frontiers.

C) occur when people do not specialize.

D) occur when opportunity costs are equal.

E) always benefit one party but not the other party of any trade.

 

50) Consider the United States' production of soy beans and running shoes. If the United States has an absolute advantage in the production of both goods compared to China,

A) both countries can gain from trade.

B) only the United States can gain from trade.

C) only China can gain from trade.

D) each country will be able to produce at a point beyond its PPF.

E) only the United States will be able to operate beyond its PPF.

51) To achieve gains from trade, a country

A) needs to have an absolute advantage in the production of all goods.

B) specializes in the producing a good in which it has a lower opportunity cost.

C) must produce at a point beyond its PPF.

D) should produce at the midpoint of its PPF.

E) needs to have an absolute advantage in the production of at least one good.

 

52) Specialization and trade

A) does not benefit anyone.

B) allows nations to produce inside their individual production possibilities frontier.

C) allows nations to consume combinations of products that are outside their individual production possibilities frontier.

D) shifts the production possibilities frontier inward.

E) shifts the production possibilities frontier outward.

 

53) The United States is one of the richest nations in the world,

A) so it does not need to trade with poor nations in order to achieve any gains from trade.

B) so it might not have a comparative advantage in producing any goods.

C) but it can still benefit from specialization and trade.

D) so it must have a comparative advantage in the production of all goods.

E) so it must have an absolute advantage in the production of all goods.

 

 

 

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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.

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