The figure above shows Rogers production possibilities frontier Point a is an

The figure above shows rogers production

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B) 10 fewer tons of clothing.C) 5 more tons of clothing.D--) 5 fewer tons of clothing.2
11) A country that must decrease production of one good in order to increase the production of another B 12) Consider the PPF for office buildings and housing shown in the figure above. Which point in the diagram shows that resources to produce office buildings and housing are being misallocated, unused, or both? 13) A relative price is the 14) The relative price of a good is A) an opportunity cost.B) equal to the money price of a good.C--) equal to the price of that good divided by the quantity demanded of the good.D) what you get paid for babysitting your cousin. 15) If the price of a hot dog is $2 and the price of a hamburger is $4, then theA--) relative price of a hot dog is 1/2 of a hamburger per hot dog. 16) The opportunity cost of a good is the same as its 3
17) Wants, as opposed to demands, 18) The quantity demanded of a good or service is the amount that A) a consumer would like to buy but might not be able to afford.B) is actually bought during a given time period at a given price.C--) consumers plan to buy during a given time period at a given price.D) firms are willing to sell during a given time period at a given price. 19) The quantity demanded is 20) The law of demand states that, other things remaining the same, the higher the price of a good, the 21) The law of demand implies that demand curves 22) For normal goods which of the following explains why demand curves slope downward?

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