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Screenshot 2019-10-14 at</h1><p class='abPRemoveTitle'> 2.49.14 AM.pngScreenshot 2019-10-14 at 2.49.30 AM.pngScreenshot 2019-10-14 at 2.49.41 AM.pngScreenshot 2019-10-14 at 2.49.54 AM.png

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Table 3-20
Assume that Brad and Theresa can switch between producing wheat and producing beef at
a constant rate.
Minutes Needed to Make 1
Bushel of Wheat
Pound of Beef
Brad
10
12
Theresa
6
10
Refer to Table 3-20. What is Brad's opportunity cost of producing one bushel of wheat?
O a. 5/6 pound of beef
O b. 6/5 pounds of beef
O c. 3/5 pounds of beef
O d. 5/3 pounds of beef

Screenshot 2019-10-14 at 2.49.30 AM.png

Figure 3-8
Chile's Production Possibilities Frontier Colombia's Production Possibilities
Frontier
(ix pounds)
[im pounds)
18+
18-
16-
14+
14 +
12 +
12 +
10-+
To +
8 -
8 +
+
6
10 12 14 16 18 20 coFee
2
8 10 12 14 16 18 20 core
ex pounds
Refer to Figure 3-8. If the production possibilities frontiers shown are each for one day of
production, then which of the following combinations of coffee and soybeans could Chile
and Colombia together make in a given day?
O a. 4 pounds of coffee and 16 pounds of soybeans
O b. 8 pounds of coffee and 15 pounds of soybeans
O c. 16 pounds of coffee and 10 pounds of soybeans
O d. 24 pounds of coffee and 4 pounds of soybeans

Screenshot 2019-10-14 at 2.49.41 AM.png

Figure 6-23
Is
D
10 12 14 16 quantity
Refer to Figure 6-23. Which of the following is correct?
O
a.
The entire burden of the tax falls on sellers, and none of the burden of the tax falls on
buyers.
O b.
One-third of the burden of the tax falls on buyers, and two-thirds of the burden of the
tax falls on sellers.
O
C.
One-half of the burden of the tax falls on buyers, and one-half of the burden of the tax
falls on sellers.
O d.
Two-thirds of the burden of the tax falls on buyers, and one-third of the burden of the
tax falls on sellers.

Screenshot 2019-10-14 at 2.49.54 AM.png

Table 3-10
Assume that Japan and Korea can switch between producing cars and producing airplanes
at a constant rate.
Hours Needed to Make 1
Quantity Produced in 2400 Hours
Car
Airplane
Car
Airplane
Japan
30
150
80
16
Korea
50
150
48
16
Refer to Table 3-10. We could use the information in the table to draw a production
possibilities frontier for Japan and a second production possibilities frontier for Korea. If we
were to do this, measuring airplanes along the horizontal axis, then
O
a.
the slope of Japan's production possibilities frontier would be -5 and the slope of
Korea's production possibilities frontier would be -3.
O
b.
the slope of Japan's production possibilities frontier would be -0.2 and the slope of
Korea's production possibilities frontier would be -0.33.
O
C.
the slope of Japan's production possibilities frontier would be 0.2 and the slope of
Korea's production possibilities frontier would be 0.33.
O
d.
the slope of Japan's production possibilities frontier would be 5 and the slope of
Korea's production possibilities frontier would be 3.

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