Quiz 3.1 - Exit Menu Quiz 3-1 Submitted by jjani on...

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Sheet1 Page 1 Exit Menu Quiz 3-1 Submitted by jjani on 2/29/2008 12:33:30 PM Points Awarded 20 Points Missed 0 Percentage 100% 1.In the following figure, a point such as A 1 A.is preferable over B. B.is an efficient use of resources. C.is a misallocation of resources. D.is not obtainable. Right Points Earned:1/1 Correct Answer:B Your Response:B 2.In the following figure, a point such as E 2 A.is not obtainable. B.is an efficient use of resources. C.is an inefficient use of resources. D.indicates that the society is a capitalist society. Right Points Earned:1/1 Correct Answer:C Your Response:C 3.The production possibilities frontier shows 3 A.all combinations of prices and quantities for all goods and services produced in the economy. B.all combinations of prices and quantities for all goods and services demanded by consumers. C.the maximum combinations of goods and services that an economy is able to produce given a fixed supply of resources an d Right Points Earned:1/1 Correct Answer:C Your Response:C 4.An improvement in technology causes 4 A.the production possibilities frontier to shift outward. B.the production possibilities frontier to shift inward. C.a movement from one point to another along the same production possibilities frontier. The curve won't shift. Right Points Earned:1/1 Correct Answer:A Your Response:A 5.Investment goods are 5 A.goods that are used to produce other goods. B.goods that yield a high rate of return.
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Quiz 3.1 - Exit Menu Quiz 3-1 Submitted by jjani on...

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