Public goods and services a a and b b b c and d c b

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Exploring Microeconomics
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Chapter 2 / Exercise 8
Exploring Microeconomics
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public goods and services? A) A and B B) B, C, and D C) B and C D) A, B, C, and D
31) The BEST explanation of why there will always be scarcity is because…
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Exploring Microeconomics
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Chapter 2 / Exercise 8
Exploring Microeconomics
Sexton
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32) Principle Imports and Exports of Peru Imports Exports Machinery Gold Plastics Copper Electronics Textiles Steel Petroleum Based on the information in the table, which statement about Peru’s economy is true? The greatest improvement in the productive powers of labour, and the greater part of the skill, dexterity and judgement with which it is any where directed, or applied, seem to have been the effects of the division of labour. -Adam Smith, the Wealth of Nations , 1776 According to the quote, the author MOST LIKELY agrees with the benefits of B) specialization. C) mercantilism. D) taxation. 33) Sean decided he no longer needs his smartphone, but would really like a small camera. Sarah, on the other hand, has a small camera she is not using and desperately needs a smartphone. They agree to trade each other their unwanted goods for those that they want and need. Sean and Sarah's situation is an example of 34) The greatest improvement in the productive powers of labour, and the greater part of the skill, dexterity and judgement with which it is any where directed, or applied, seem to have been the effects of the division of labour. -Adam Smith, the Wealth of Nations , 1776 According to the quote, the author MOST LIKELY agrees with the benefits of A) manorialism. B) specialization. C) mercantilism. D) taxation. 35) Although specialization increases productivity, one disadvantage is 36) According to the information from the U.S. Department of Labor, which factor has the GREATEST impact on raising labor productivity?
37) Which example of productive resources is matched correctly?
38) What is a rational economic decision? A) One in which there are no opportunity costs. B) One in which marginal costs exceed marginal benefits. C) One in which marginal benefits exceed marginal costs. D) One in which the benefits are unknown, but costs are low.

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