17 in figure 221 when 2000 bicycles are produced each

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17)In Figure 2.2.1, when 2,000 bicycles are produced each monthA)the marginal benefit from another bicycle is greater than the marginal cost of anotherbicycle.B) more bicycles must be produced to reach the efficient level of output.C)fewer bicycles must be produced to reach the efficient level of output.D)the economy is efficient at this level of production of bicycles.E) both A and B.
18) The growth of capital resources, including human capital is
19) Which of the following quotations illustrates economic growth?
20) Debra has an absolute advantage in producing a good when she
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Chapter 4 / Exercise 4
Macroeconomics: Principles & Policy
Baumol/Blinder
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Use the table below to answer the following questions.Table 2.4.2Production for one week by Sheila and Bruce21) Given the information in Table 2.4.2, can Sheila and Bruce gain by specialization?A)It depends on the wages each earns.B) Only if they are married to each other.C) No, not under the given circumstances.D) Yes, but only if Bruce gets paid more than Sheila.E) Yes, if each specializes in the good in which he has a comparative advantage.
22) Which one of the following events shifts the demand curve for grape jelly to the right?
23) The price of goodXfalls and the demand for goodYdecreases.We can conclude that
24) Some sales managers are talking shop. Which of the following quotations refers to a movementalong the demand curve?
25)If goodsXandYare substitutes in production, then a rise in the price of goodXA) decreases the demand for goodYB) might change the supply ofY; it depends on whetherXandYare also substitutes..

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Term
Winter
Professor
VANDERWAAL
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Macroeconomics: Principles & Policy
The document you are viewing contains questions related to this textbook.
Chapter 4 / Exercise 4
Macroeconomics: Principles & Policy
Baumol/Blinder
Expert Verified

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