USU-Intro To MacroEcon - Assignment 1

USU-Intro To MacroEcon Assignment 1

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Unformatted text preview: e. 2. by a downward movement along the produc tion pos s ibilities c urve. 3. by a movement toward the produc tion pos s ibilities c urve. 4. by an upward movement along the produc tion pos s ibilities c urve. 5. by an outward s hift of the produc tion pos s ibilities c urve. Que stion 6 (1 point) Marginal opportunity c os t is defined to be 1. the dec lining ability of a c ountry to c orrec t its balanc e of trade defic it. 2. alway s unc hanging. 3. alway s dec reas ing. 4. les s produc tive res ourc es . 5. the amount of one good or s ervic e that mus t be forgone to obtain an additional unit of another good. Que stion 7 (1 point) Given the differenc es in opportunity c os ts within individual c ountries , it mak es s ens e for c ountries 1. to forc e protec tionis m of the mos t important domes tic indus tries , us ing tariffs and quotas . 2. to devalue their c urrenc ies at leas t onc e a y ear. 3. to s pec ializ e in ac tivities in whic h opportunity c os ts are highes t and then avoid trade in order to manage trade defic it...
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This homework help was uploaded on 03/18/2014 for the course ECON 2010 taught by Professor Staff during the Spring '08 term at Utah Valley University.

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