151.Onabowedproductionpossibilitiesfrontier,asyoumovedownalongthecurve a.moreofonegoodmustbegivenuptoreceiveoneunitoftheothergood. b.theavailableproductiontechnologydoesnotchange. c.theopportunitycostincreases. d.Alloftheabovearecorrect. 152.Whenaproductionpossibilitiesfrontierisbowedoutward,theopportunitycostofproducinganadditionalunitofagood a.increasesasmoreofthegoodisproduced. b.decreasesasmoreofthegoodisproduced. c.doesnotchangeasmoreofthegoodisproduced. d.mayincrease,decrease,ornotchangeasmoreofthegoodisproduced. 153.Productionpossibilitiesfrontiersareusuallybowedoutward.Thisisbecause a.themoreresourcesasocietyusestoproduceonegood,thefewerresourcesithasavailabletoproduceanothergood. b.theopportunitycostofproducingagooddecreasesasmoreandmoreofthatgoodisproduced. c.oftheeffectsoftechnologicalchange. d.resourcesarespecialized;thatis,somearebetteratproducingparticulargoodsratherthanothergoods. 154.Economistsbelievethatproductionpossibilitiesfrontiers a.neverhaveabowedshape. b.rarelyhaveabowedshape. c.oftenhaveabowedshape. d.alwayshaveabowedshape. Table2-1 Thefollowingtablecontainssomeproductionpossibilitiesforaneconomyforagivenmonth. Hammers Nails 3 900 6 ? 9 300 155.RefertoTable2-1.Iftheproductionpossibilitiesfrontierisbowedoutward,then“?”couldbe a.400. b.450. c.600. d.750. Table2-2 Thefollowingtablecontainssomeproductionpossibilitiesforaneconomyforagivenyear: TennisRackets TennisBalls 100 8000 200 6500 300 ? 156.RefertoTable2-2.Iftheproductionpossibilitiesfrontierisbowedoutward,then”?”couldbe a.6000. b.5500. c.5000. d.4500. 157.Aproductionpossibilitiesfrontiercanshiftoutwardif a.governmentincreasestheamountofmoneyintheeconomy. b.thereisatechnologicalimprovement. c.resourcesareshiftedfromtheproductionofonegoodtotheproductionoftheothergood. d.theeconomyabandonsinefficientproductionmethodsinfavorofefficientproductionmethods. 158.Aproductionpossibilitiesfrontiershiftsoutwardwhen a.theeconomyexperienceseconomicgrowth. b.thedesiresoftheeconomy’scitizenschange. […]