Review_1_Chapter_1

Review_1_Chapter_1 - BA 315: Review#1 Ali Emami Student...

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BA 315: Review#1 Student Name:__________ Ali Emami HW Team #:____________ 1. I plan on going to a $5 movie this evening instead of studying for an exam. The total opportunity cost of the movie: A) Is what I could have purchased with the $5 plus the study time I forgo. B) Is $5. C) Depends on how good the movie is. D) Is the forgone studying I could have done during the same time. 2. The slope of the production-possibilities curve provides information about: A) The growth rate of the economy. B) Technological change in the economy. C) Opportunity costs in the economy. D) All of the above. 3. Which of the following events would cause the production-possibilities curve to shift inward? A) The labor supply grows. B) New factories are built. C) A technological breakthrough occurs that makes production of all goods more efficient. D) A major earthquake destroys several industrial centers. 4. Which of the following will cause the production-possibilities curve to shift outward? A) An increase in the number of women in the labor force. B) A higher level of literacy. C) An improvement in roads and highways. D) All of the above. 5.
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This test prep was uploaded on 04/22/2008 for the course ECON 315 taught by Professor Aliemami during the Spring '08 term at University of Oregon.

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Review_1_Chapter_1 - BA 315: Review#1 Ali Emami Student...

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