84-Production_Possibilities

84-Production_Possibilities - Name: Date: Class: Total...

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Name: Class: Date: Total Possible Marks: 15 Each multiple choice question carries one mark for a correct answer. No marks are deducted for wrong answers. Circle or tick your chosen answer. 1 1. The slope of the production possibility frontier shows A. the technically efficient combinations of the two goods B. how factor inputs must be changed to keep them fully employed C. the opportunity cost of one good in terms of the other D. how consumers are willing to trade one good for another 1 2. A. OM B. OH C. YF D. MH 1 3. Which of the following will not shift a country's production possibilities frontier outward? A. a reduction in the rate of unemployment B. an increase in the size of the available labour force C. an advance in technology D. an increase in the capital stock 1 4. Indonesia was one of the countries most affected by a tsunami (tidal wave) in the Indian Ocean on 26 December 2004. The most likely economic impact is A. an outward shift of its production possibility frontier B. a movement from inside its production possibility frontier to the boundary
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84-Production_Possibilities - Name: Date: Class: Total...

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