Sapling Learning – Chapter 2.docx - SantaMonicaCollege...

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Santa Monica CollegeEcon 1 - Principles of MicroeconomicsWinter 2018Sapling Learning – Chapter 21.The production possibilities table on the right shows the combinations of space missions and school classrooms that can be produced by the nation of Northumbia. Using the information in the table, move points A, B, C, D and E in order to graph Northumbia’s production possibilities curve.PRODUCTION POSSIBILITES TABLE FOR NORTHUMBIAPOINTSPACE MISSIONSSCHOOL CLASSROOMSA0640B2600C4480D6280E80
Santa Monica CollegeEcon 1 - Principles of MicroeconomicsWinter 20182.Below is the production possibilities frontier for Shlick, whose main products are pickles and razors.Suppose a discovery is made adding lemon juice to the vinegar not only improves the pickle’s flavor, but also allows the pickling process to occur faster. Please shift the production possibilities frontier accordingly.
Santa Monica CollegeEcon 1 - Principles of MicroeconomicsWinter 20183.Place each scenario below into the proper bin to label the accompanying circular flow diagram. More than once scenario may go into a bin.4.Assume the following people are economists with different tasks at hand.Christine is writing her Ph.D. dissertation on why the housing bubble burst.In her writing, Christine is employing positive analysisGregory is an advisor to the President and suggests implementing a package of economic policies in order to lower unemployment in the United States.In Gregory’s decision making, he is employing normative analysis..
Santa Monica CollegeEcon 1 - Principles of MicroeconomicsWinter 2018Despite the wealth of economic knowledge from the leading economists of the nation, the economic advice of these top individuals is sometimes unheeded by the leaders of the United States. Why?

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Term
Fall
Professor
Bruce Brown

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