ECON8305docx (447).pdf - 259 iChapter i2u2014Choice...

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259. i Chapter i 2 Choice, i Opportunity i Costs, i and i Specialization i Quest116 i A i specialist i is i a i person i who i is i capable i of i doing i only i one i thing. a. i True *b. i False 260. i Chapter i 2 Choice, i Opportunity i Costs, i and i Specialization i Quest117 i Trade i occurs i because i countries i may i produce i more i than i they i need. a. i True *b. i False 261. i Chapter i 2 Choice, i Opportunity i Costs, i and i Specialization i Quest118 i A i bowed-out i PPC i indicates i increasing i marginal i opportunity i costs i between i the i goods i or i services i produced. *a. i True b. i False 262. i Chapter i 2 Choice, i Opportunity i Costs, i and i Specialization i Quest119 i When i specialized i resources i that i are i productive i in i the i production i of i one i good i are i shifted i to i the i production i of i another i good i in i which i they i are i relatively i less i productive, i the i resulting i production i possibilities i curve i of i the i goods i tends i to i bow i in. a. i True *b. i False 263. i Chapter

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