Question 1

Points that lie outside the production possibilities curve are ________, and points that lie inside the production possibilities curve are ________.

Accepted Answer

A) efficient; inefficient 
B) inefficient; efficient 
C) unattainable; attainable 
D) attainable; unattainable 
A) efficient; inefficient 
B) inefficient; efficient 
C) unattainable; attainable 
D) attainable; unattainable

Question 2

Refer to the accompanying table. Pat's opportunity cost of making a pizza is delivering: $\begin{array}{|l|r|r|}
\hline & \text { Pizzas Made Per Hour } & \text { Pizzas Delivered Per Hour } \
\hline \text { Corey } & 12 & 6 \
\hline \text { Pat } & 10 & 15 \
\hline
\end{array}$

Accepted Answer

A) 3 pizzas. 
B) 2 pizzas. 
C) 3/2 of a pizza. 
D) 2/3 of a pizza. 
A) 3 pizzas. 
B) 2 pizzas. 
C) 3/2 of a pizza. 
D) 2/3 of a pizza.

Question 3

The emergence of English as the de facto world language ________ a comparative advantage in the production of books, movies and popular music.

Accepted Answer

A) has given English-speaking countries 
B) has given non-English-speaking countries 
C) has no effect on which country has 
D) has given all countries 
A) has given English-speaking countries 
B) has given non-English-speaking countries 
C) has no effect on which country has 
D) has given all countries

Points that lie outside the production possibilities curve are , and points that lie inside the production possibilities curve are .

Refer to the accompanying table. Pat's opportunity cost of making a pizza is delivering: Pizzas Made Per Hour Pizzas Delivered Per Hour Corey 12 6 Pat 10 15

The emergence of English as the de facto world language ________ a comparative advantage in the production of books, movies and popular music.

Thinking Like an Economist

Supply and Demand

Elasticity

Demand

Perfectly Competitive Supply

Efficiency, Exchange, and the Invisible Hand in Action

Monopoly, Oligopoly, and Monopolistic Competition

Games and Strategic Behavior

An Introduction to Behavioral Economics

Externalities, Property Rights, and the Environment

The Economics of Information

Labor Markets, Poverty, and Income Distribution

Public Goods and Tax Policy

International Trade and Trade Policy

Macroeconomics: The Birds Eye View of the Economy

Measuring Economic Activity: GDP and Unemployment

Measuring the Price Level and Inflation

Economic Growth, Productivity, and Living Standards

The Labor Market: Workers, Wages, and Unemployment

Saving and Capital Formation

Money Prices and the Federal Reserve

Financial Markets and International Capital Flows

Short-Term Economic Fluctuations: An Introduction

Spending and Output in the Short Run

Stabilizing the Economy: The Role of the Fed

Aggregate Demand, Aggregate Supply, and Inflation

Exchange Rates and the Open Economy

Filters

Exam 2: Comparative Advantage

Points that lie outside the production possibilities curve are ________, and points that lie inside the production possibilities curve are ________.

Refer to the accompanying table. Pat's opportunity cost of making a pizza is delivering: Pizzas Made Per Hour Pizzas Delivered Per Hour Corey 12 6 Pat 10 15

The emergence of English as the de facto world language ________ a comparative advantage in the production of books, movies and popular music.

Thinking Like an Economist

Supply and Demand

Elasticity

Demand

Perfectly Competitive Supply

Efficiency, Exchange, and the Invisible Hand in Action

Monopoly, Oligopoly, and Monopolistic Competition

Games and Strategic Behavior

An Introduction to Behavioral Economics

Externalities, Property Rights, and the Environment

The Economics of Information

Labor Markets, Poverty, and Income Distribution

Public Goods and Tax Policy

International Trade and Trade Policy

Macroeconomics: The Birds Eye View of the Economy

Measuring Economic Activity: GDP and Unemployment

Measuring the Price Level and Inflation

Economic Growth, Productivity, and Living Standards

The Labor Market: Workers, Wages, and Unemployment

Saving and Capital Formation

Money Prices and the Federal Reserve

Financial Markets and International Capital Flows

Short-Term Economic Fluctuations: An Introduction

Spending and Output in the Short Run

Stabilizing the Economy: The Role of the Fed

Aggregate Demand, Aggregate Supply, and Inflation

Exchange Rates and the Open Economy

Filters

Points that lie outside the production possibilities curve are , and points that lie inside the production possibilities curve are .