\[\begin{array} { | c | c | } \hline \begin{array} { c } \text { Cheese } \\ \text { (tons) } \end{array} & \begin{array} { c } \text { DVDs } \\ \text { (thousands) } \end{array} \\ \hline 0 & 60 \\ \hline 2 & 56 \\ \hline 4 & 48 \\ \hline 6 & 36 \\ \hline 8 & 20 \\ \hline 10 & 0 \\ \hline \end{array}\] -The table above lists six points on the production possibilities frontier for cheese and DVDs.Given this information,which of the following combinations is unattainable?

A) 2 tons of cheese and 56 thousand DVDs B) 8 tons of cheese and 21 thousand DVDs C) 6 tons of cheese and 34 thousand DVDs D) 7 tons of cheese and 20 thousand DVDs A) 2 tons of cheese and 56 thousand DVDs B) 8 tons of cheese and 21 thousand DVDs C) 6 tons of cheese and 34 thousand DVDs D) 7 tons of cheese and 20 thousand DVDs B

\[\begin{array} { | c | c | } \hline \begin{array} { c } \text { Cheese } \\ \text { (tons) } \end{array} & \begin{array} { c } \text { DVDs } \\ \text { (thousands) } \end{array} \\ \hline 0 & 60 \\ \hline 2 & 56 \\ \hline 4 & 48 \\ \hline 6 & 36 \\ \hline 8 & 20 \\ \hline 10 & 0 \\ \hline \end{array}\] -The table above lists six points on the production possibilities frontier for cheese and DVDs.From this information you can conclude that production is inefficient if this economy produces

A) 2 tons of cheese and 56 thousand DVDs. B) 8 tons of cheese and 21 thousand DVDs. C) 5 tons of cheese and 48 thousand DVDs. D) 7 tons of cheese and 20 thousand DVDs. A) 2 tons of cheese and 56 thousand DVDs. B) 8 tons of cheese and 21 thousand DVDs. C) 5 tons of cheese and 48 thousand DVDs. D) 7 tons of cheese and 20 thousand DVDs.

\[\begin{array} { | c | c | } \hline \begin{array} { c } \text { Cheese } \\ \text { (tons) } \end{array} & \begin{array} { c } \text { DVDs } \\ \text { (thousands) } \end{array} \\ \hline 0 & 60 \\ \hline 2 & 56 \\ \hline 4 & 48 \\ \hline 6 & 36 \\ \hline 8 & 20 \\ \hline 10 & 0 \\ \hline \end{array}\] -The table above lists six points on the production possibilities frontier for cheese and DVDs.What is the opportunity cost of producing the 7th ton of cheese?

A) 16 DVDs per ton of cheese B) 8 DVDs per ton of cheese C) 20 DVDs per ton of cheese D) 28 DVDs per ton of cheese A) 16 DVDs per ton of cheese B) 8 DVDs per ton of cheese C) 20 DVDs per ton of cheese D) 28 DVDs per ton of cheese

Exam 16: Introduction

Jen won $900 in a lottery.She has a choice between using the money to buy a sofa,a television,or going on a vacation.If she chooses to buy a television,the opportunity cost of this decision is

Free

(Multiple Choice)

4.8/5

(28)

Question 1

Correct Answer:

Verified

D

Cheese (tons) DVDs (thousands) 0 60 2 56 4 48 6 36 8 20 10 0 -The table above lists six points on the production possibilities frontier for cheese and DVDs.Given this information,which of the following combinations is unattainable?

Free

(Multiple Choice)

4.8/5

(28)

Question 2

Correct Answer:

Verified

B

Lizzie takes 20 seconds to stuff an envelope and 10 seconds to seal it.Arnold takes 15 seconds to stuff an envelope and 5 seconds to seal it.Lizzie has a comparative advantage in and Arnold has a comparative advantage in .

Free

(Multiple Choice)

4.8/5

(37)

Question 3

Correct Answer:

Verified

B

Shoes are a normal good and people's incomes rise.Simultaneously the number of companies making shoes decreases.As a result,the equilibrium price of a pair of shoes and the equilibrium quantity .

(Multiple Choice)

4.8/5

(34)

Question 4

-The figure above shows the market for digital cameras.If consumers' incomes rise and a digital camera is a normal good,the equilibrium quantity of digital cameras will be thousand cameras and the price of a digital camera will be .

(Multiple Choice)

4.9/5

(22)

Question 5

The number of companies making shoes decreases.As a result,the equilibrium price of a pair of shoes and the equilibrium quantity .

(Multiple Choice)

4.7/5

(31)

Question 6

Shoes are a normal good and people's incomes rise.As a result,the equilibrium price of a pair of shoes and the equilibrium quantity .

(Multiple Choice)

4.9/5

(34)

Question 7

If OPEC cuts oil production,then the

(Multiple Choice)

4.8/5

(31)

Question 8

Which of the following is NOT a factor of production?

(Multiple Choice)

4.8/5

(31)

Question 9

Cheese (tons) DVDs (thousands) 0 60 2 56 4 48 6 36 8 20 10 0 -The table above lists six points on the production possibilities frontier for cheese and DVDs.From this information you can conclude that production is inefficient if this economy produces

(Multiple Choice)

4.8/5

(27)

Question 10

The opportunity cost of a good is

(Multiple Choice)

5.0/5

(39)

Question 11

All economic questions arise because

(Multiple Choice)

4.8/5

(28)

Question 12

Jelly beans and popcorn are substitutes.A fall in the price of a bag of jelly beans will the demand for popcorn and the price of popcorn will .

(Multiple Choice)

4.9/5

(34)

Question 13

Cheese (tons) DVDs (thousands) 0 60 2 56 4 48 6 36 8 20 10 0 -The table above lists six points on the production possibilities frontier for cheese and DVDs.What is the opportunity cost of producing the 7th ton of cheese?

(Multiple Choice)

4.8/5

(36)

Question 14

Country X devoted 70 percent of its resources to consumption,while Country Y devoted 80 percent to consumption.Other things being equal,you can predict that

(Multiple Choice)

4.8/5

(36)

Question 15

-The figure above shows the market for film cameras.If the price of digital cameras falls,the equilibrium quantity of film cameras will be thousand cameras and the price of a film camera will be .

(Multiple Choice)

4.8/5

(27)

Question 16

If pizza is a normal good,then an increase in people's incomes shifts the curve .

(Multiple Choice)

4.9/5

(36)

Question 17

If the wood used to produce houses rises in price,then the houses .

(Multiple Choice)

4.8/5

(34)

Question 18

According to the principle of comparative advantage,if the United States trades with Mexico,most likely,

(Multiple Choice)

4.9/5

(37)

Question 19

If the wood used to produce houses rises in price,then the houses shifts .

(Multiple Choice)

4.9/5

(42)

Question 20

Jen won $900 in a lottery.She has a choice between using the money to buy a sofa,a television,or going on a vacation.If she chooses to buy a television,the opportunity cost of this decision is

Cheese (tons) DVDs (thousands) 0 60 2 56 4 48 6 36 8 20 10 0 -The table above lists six points on the production possibilities frontier for cheese and DVDs.Given this information,which of the following combinations is unattainable?

Lizzie takes 20 seconds to stuff an envelope and 10 seconds to seal it.Arnold takes 15 seconds to stuff an envelope and 5 seconds to seal it.Lizzie has a comparative advantage in and Arnold has a comparative advantage in .

Shoes are a normal good and people's incomes rise.Simultaneously the number of companies making shoes decreases.As a result,the equilibrium price of a pair of shoes and the equilibrium quantity .

-The figure above shows the market for digital cameras.If consumers' incomes rise and a digital camera is a normal good,the equilibrium quantity of digital cameras will be thousand cameras and the price of a digital camera will be .

The number of companies making shoes decreases.As a result,the equilibrium price of a pair of shoes and the equilibrium quantity .

Shoes are a normal good and people's incomes rise.As a result,the equilibrium price of a pair of shoes and the equilibrium quantity .

If OPEC cuts oil production,then the

Which of the following is NOT a factor of production?

Cheese (tons) DVDs (thousands) 0 60 2 56 4 48 6 36 8 20 10 0 -The table above lists six points on the production possibilities frontier for cheese and DVDs.From this information you can conclude that production is inefficient if this economy produces

The opportunity cost of a good is

All economic questions arise because

Jelly beans and popcorn are substitutes.A fall in the price of a bag of jelly beans will the demand for popcorn and the price of popcorn will .

Cheese (tons) DVDs (thousands) 0 60 2 56 4 48 6 36 8 20 10 0 -The table above lists six points on the production possibilities frontier for cheese and DVDs.What is the opportunity cost of producing the 7th ton of cheese?

Country X devoted 70 percent of its resources to consumption,while Country Y devoted 80 percent to consumption.Other things being equal,you can predict that

-The figure above shows the market for film cameras.If the price of digital cameras falls,the equilibrium quantity of film cameras will be thousand cameras and the price of a film camera will be .

If pizza is a normal good,then an increase in people's incomes shifts the curve .

If the wood used to produce houses rises in price,then the houses .

According to the principle of comparative advantage,if the United States trades with Mexico,most likely,

If the wood used to produce houses rises in price,then the houses shifts .

What Is Economics

The Economic Problem

Demand and Supply

Measuring GDP and Economic Growth

Monitoring Jobs and Inflation

Economic Growth

Finance, Saving, and Investment

Money, The Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers

Inflation, Jobs, and the Business Cycle

Fiscal Policy

Monetary Policy

International Trade Policy

Monitoring Macroeconomic Performance

Macroeconomic Trends

Macroeconomic Fluctuations

Macroeconomic Policy

Filters

Exam 16: Introduction

Jen won $900 in a lottery.She has a choice between using the money to buy a sofa,a television,or going on a vacation.If she chooses to buy a television,the opportunity cost of this decision is

Cheese (tons) DVDs (thousands) 0 60 2 56 4 48 6 36 8 20 10 0 -The table above lists six points on the production possibilities frontier for cheese and DVDs.Given this information,which of the following combinations is unattainable?

Lizzie takes 20 seconds to stuff an envelope and 10 seconds to seal it.Arnold takes 15 seconds to stuff an envelope and 5 seconds to seal it.Lizzie has a comparative advantage in ________ and Arnold has a comparative advantage in ________.

Shoes are a normal good and people's incomes rise.Simultaneously the number of companies making shoes decreases.As a result,the equilibrium price of a pair of shoes ________ and the equilibrium quantity ________.

-The figure above shows the market for digital cameras.If consumers' incomes rise and a digital camera is a normal good,the equilibrium quantity of digital cameras will be ________ thousand cameras and the price of a digital camera will be ________.

The number of companies making shoes decreases.As a result,the equilibrium price of a pair of shoes ________ and the equilibrium quantity ________.

Shoes are a normal good and people's incomes rise.As a result,the equilibrium price of a pair of shoes ________ and the equilibrium quantity ________.

If OPEC cuts oil production,then the

Which of the following is NOT a factor of production?

Cheese (tons) DVDs (thousands) 0 60 2 56 4 48 6 36 8 20 10 0 -The table above lists six points on the production possibilities frontier for cheese and DVDs.From this information you can conclude that production is inefficient if this economy produces

The opportunity cost of a good is

All economic questions arise because

Jelly beans and popcorn are substitutes.A fall in the price of a bag of jelly beans will ________ the demand for popcorn and the price of popcorn will ________.

Cheese (tons) DVDs (thousands) 0 60 2 56 4 48 6 36 8 20 10 0 -The table above lists six points on the production possibilities frontier for cheese and DVDs.What is the opportunity cost of producing the 7th ton of cheese?

Country X devoted 70 percent of its resources to consumption,while Country Y devoted 80 percent to consumption.Other things being equal,you can predict that

-The figure above shows the market for film cameras.If the price of digital cameras falls,the equilibrium quantity of film cameras will be ________ thousand cameras and the price of a film camera will be ________.

If pizza is a normal good,then an increase in people's incomes shifts the ________ curve ________.

If the wood used to produce houses rises in price,then the ________ houses ________.

According to the principle of comparative advantage,if the United States trades with Mexico,most likely,

If the wood used to produce houses rises in price,then the ________ houses shifts ________.

What Is Economics

The Economic Problem

Demand and Supply

Measuring GDP and Economic Growth

Monitoring Jobs and Inflation

Economic Growth

Finance, Saving, and Investment

Money, The Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers

Inflation, Jobs, and the Business Cycle

Fiscal Policy

Monetary Policy

International Trade Policy

Monitoring Macroeconomic Performance

Macroeconomic Trends

Macroeconomic Fluctuations

Macroeconomic Policy

Filters

Lizzie takes 20 seconds to stuff an envelope and 10 seconds to seal it.Arnold takes 15 seconds to stuff an envelope and 5 seconds to seal it.Lizzie has a comparative advantage in and Arnold has a comparative advantage in .

Shoes are a normal good and people's incomes rise.Simultaneously the number of companies making shoes decreases.As a result,the equilibrium price of a pair of shoes and the equilibrium quantity .

-The figure above shows the market for digital cameras.If consumers' incomes rise and a digital camera is a normal good,the equilibrium quantity of digital cameras will be thousand cameras and the price of a digital camera will be .

The number of companies making shoes decreases.As a result,the equilibrium price of a pair of shoes and the equilibrium quantity .

Shoes are a normal good and people's incomes rise.As a result,the equilibrium price of a pair of shoes and the equilibrium quantity .

Jelly beans and popcorn are substitutes.A fall in the price of a bag of jelly beans will the demand for popcorn and the price of popcorn will .

-The figure above shows the market for film cameras.If the price of digital cameras falls,the equilibrium quantity of film cameras will be thousand cameras and the price of a film camera will be .

If pizza is a normal good,then an increase in people's incomes shifts the curve .

If the wood used to produce houses rises in price,then the houses .

If the wood used to produce houses rises in price,then the houses shifts .