Econ 101 exam 2 original attempt 1.docx - ECON101_MH_V3Topic 2 The U.S Economy Started on State Tuesday 9:09 AM Finished Completed on Tuesday 9:49 AM

Econ 101 exam 2 original attempt 1.docx -...

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ECON101_MH_V3Topic 2: The U.S. Economy Started on Tuesday, January 21, 2020, 9:09 AM State Finished Completed on Tuesday, January 21, 2020, 9:49 AM Time taken 39 mins 29 secs Grade 52.25 out of 55.00 (95%) Question 1 Correct 2.75 points out of 2.75 Not flaggedFlag question Question text Refer to the figure below. Relative to point B, at point C this restaurant is: Graph of Salads per hour versus pizzas per hour. As pizzas increase, salad decrease, creating a negative curve. Point B lies on the line at 75 salads per hour and 30 pizzas per hour. Point c lies on the line at 50 salads per hour and 35 pizzas per hour. Select one: a. making more pizzas and more salads. b. making more pizzas and fewer salads. Correct c. making fewer pizzas and more salads. d. operating more efficiently. Feedback The correct answer is: making more pizzas and fewer salads. Question 2 Correct
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2.75 points out of 2.75 Not flaggedFlag question Question text An increase in an economy's productive resources will lead the production possibilities curve to: Select one: a. shift inward. b. shift outward. Correct c. become flatter. d. stay the same. Feedback The correct answer is: shift outward. Question 3 Correct 2.75 points out of 2.75 Not flaggedFlag question Question text Moe divides his time between studying Physics and studying Economics. His production possibilities curve for his final grade in each class is shown below. Picture According to Moe's PPC, moving from a 70 to an 80 in economics: Select one: a. is inefficient.
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b. has a lower opportunity cost than moving from an 80 to a 90. Correct c. is unattainable. d. has a higher opportunity cost than moving from an 80 to a 90. Feedback The correct answer is: has a lower opportunity cost than moving from an 80 to a 90. Question 4 Correct 2.75 points out of 2.75 Not flaggedFlag question Question text Suppose Colin brews beer and makes cheese. If Colin can increase his production of beer without decreasing his production of cheese, then he is producing at an: Select one: a. inefficient point. Correct b. efficient point. c. unattainable point. d. ideal point. Feedback The correct answer is: inefficient point. Question 5 Correct 2.75 points out of 2.75 Not flaggedFlag question Question text
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Moe divides his time between studying Physics and studying Economics. His production possibilities curve for his final grade in each class is shown below. Picture Which of the following is true? Select one: a. Moe has a comparative advantage in physics. b. Moe's opportunity cost of studying for each subject is increasing. Correct c. Moe has a comparative advantage in economics. d. Moe has an absolute advantage in economics. Feedback The correct answer is: Moe's opportunity cost of studying for each subject is increasing.
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