assignments1-5

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Student Response Value Correct Answer Feedback supply helped push the nation's unemployment rate down in the short run. Score: 1/1 Comments: 2. Which of the following is a normative macroeconomics statement? Score: 1/1 Comments: 3. Opportunity cost is the value of
Score: 1/1 Comments: 4. Prior to attending college, Darius is offered a lucrative four-year contract as an actor in a daytime soap opera. Assuming that acting and attending college are Darius' preferred alternatives and that he must choose between the two, his cost of attending college after receiving the offer Score: 1/1 Comments: 5. Which of the following statements is true?

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Score: 1/1 Comments: 6. Through war, many of the factories in country 1 are destroyed and many of its people are killed. As a result, the country's Score: 1/1 Comments: 7. Points inside (or below) the PPF are
Score: 1/1 Comments: 8. Consider two straight-line PPFs. They have the same vertical intercept, but curve I is flatter than curve II. The opportunity cost of producing the good on the horizontal axis Score: 1/1 Comments: 9. Suppose the economy goes from a point on its unchanging PPF to a point directly "south" of it. This could be due to

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Score: 1/1 Comments: 10. The increased production of lamps comes at constant opportunity costs in terms of bookshelves. This means Score: 1/1 Comments: 11. In an eight-hour day, Andy can produce either 24 loaves of bread or 8 pounds of butter. In an eight-hour day, John can produce either 8 loaves of bread or 8 pounds of butter. The opportunity cost of producing 1 pound of butter is
Score: 1/1 Comments: 12. Exhibit 2-5 Refer to Exhibit 2-5. The economy is currently operating at point F. The opportunity cost of moving to point E is Score: 0/1 Comments: 13. If a production possibilities frontier (PPF) is concave downward, it follows that

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1/1 Comments: 14. Keisha can produce the following combinations of X and Y: 100X and 20Y, 50X and 30Y, or 0X and 40Y. The opportunity cost of one unit of Y for Keisha is Score: 1/1 Comments: 15. A person has a comparative advantage in the production of a good when they can produce the
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