Answer 18 units of cars and 0 units of computers per period 0 units of cars and

Answer 18 units of cars and 0 units of computers per

  • McMaster University
  • ECON 1B03
  • forsythg
  • 89
  • 92% (12) 11 out of 12 people found this document helpful

This preview shows page 32 - 35 out of 89 pages.

Answer 18 units of cars and 0 units of computers per period 0 units of cars and 20 units of computers per period 16 units of cars and 12 units of computers per period 0 units of cars and 18 units of computers per period Add Question Here Multiple Choice 0 points Question If Farmer Sam MacDonald can produce 200 pounds of cabbages and 0 pounds of potatoes or 0 pounds of cabbages and 100 pounds of potatoes and faces a linear production possibility frontier for his farm, the opportunity cost of producing an additional pound of potatoes is ________ pound(s) of cabbage. Answer 1/2 2 100 200 Add Question Here Multiple Choice 0 points Question If Farmer Sam MacDonald can produce 200 pounds of cabbages and 0 pounds of potatoes or 0 pounds of cabbages and 100 pounds of potatoes and faces a linear production possibility frontier for his farm, the opportunity cost of producing an additional pound of cabbage is ________ pound(s) of potatoes. Pool Canvas Krugman; Rob... 32 of 89 9/23/2012 06:57 uni0645
Image of page 32
Answer 1/2 2 100 200 Add Question Here Multiple Choice 0 points Question The slope of a typical production possibility frontier is: Answer 0. vertical. positive. negative. Add Question Here Multiple Choice 0 points Question Reference: Ref 2-12 (Table: Production Possibilities Schedule II) If the economy is producing at alternative Z, the opportunity cost to it of producing at Y is ________ units of consumer goods per period. Answer 1 6 8 14 Add Question Here Multiple Choice 0 points Question Reference: Ref 2-12 (Table: Production Possibilities Schedule II) If an economy is producing at alternative Y, the opportunity cost to it of producing at X is ________ unit(s) of consumer goods per period. Answer 2 1 Pool Canvas Krugman; Rob... 33 of 89 9/23/2012 06:57 uni0645
Image of page 33
6 18 Add Question Here Multiple Choice 0 points Question Reference: Ref 2-12 (Table: Production Possibilities Schedule II) The production of 8 units of consumer goods and 2 units of capital goods per period would: Answer result in full employment. result in no unused resources. result in some unused or inefficiently used resources. increase economic growth. Add Question Here Multiple Choice 0 points Question An economy is said to have a comparative advantage if it: Answer can produce more of all goods than another economy. can produce less of all goods than another economy. has the highest cost for producing a particular good. has the lowest cost for producing a particular good. Add Question Here Multiple Choice 0 points Question An economy that has the lowest cost for producing a particular good is said to have a(n): Answer technological advantage. comparative advantage. production possibility frontier. increasing opportunity cost. Add Question Here Multiple Choice 0 points Question An economy is said to have a comparative advantage in the production of a good if it can produce that good: Answer with more resources than another economy.
Image of page 34
Image of page 35

You've reached the end of your free preview.

Want to read all 89 pages?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture