Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: \[\begin{array} { | l | l | l | } \hline & \text { Cars Sold } & \text { Trucks Sold } \\ \hline \text { Larry } & 10 & 5 \\ \hline \text { Joe } & 9 & 9 \\ \hline \text { Ralph } & 3 & 12 \\ \hline \end{array}\] For Larry, the opportunity cost of selling a truck is:

A) 10 fewer cars sold. B) 1/2 car not sold. C) 1 fewer car sold. D) 2 fewer cars sold. A) 10 fewer cars sold. B) 1/2 car not sold. C) 1 fewer car sold. D) 2 fewer cars sold.

Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: \[\begin{array} { | l | l | l | } \hline & \text { Cars Sold } & \text { Trucks Sold } \\ \hline \text { Larry } & 10 & 5 \\ \hline \text { Joe } & 9 & 9 \\ \hline \text { Ralph } & 3 & 12 \\ \hline \end{array}\] Joe's opportunity cost of selling a car is ______ than Ralph's, and Joe's opportunity cost of selling a car is ______ than Larry's.

A) less; greater B) greater; less C) less; less D) greater; greater A) less; greater B) greater; less C) less; less D) greater; greater

Exam 2: Comparative Advantage

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Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars Sold Trucks Sold Larry 10 5 Joe 9 9 Ralph 3 12 For Larry, the opportunity cost of selling a truck is:

(Multiple Choice)

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Question 101

The the difference between domestic opportunity costs and international opportunity costs, the the potential benefits of trading with other countries.

(Multiple Choice)

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Question 102

Pat has 4 hours to spend either studying for a test or playing a new video game. If Pat spends all of that time studying, Pat can score a 92 on the test. If Pat plays for 1 hour, Pat's test score falls 5 points. For playing a second hour, Pat's score falls by another 7 points. Playing for a third hour will lower Pat's score by another 10 points. Refer to the information above. The opportunity cost of the 2^nd hour of playing the video game is:

(Multiple Choice)

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Question 103

If Jane can produce 3 pairs of shoes hourly, while Bob can produce 2, then one can infer that the advantage belongs to .

(Multiple Choice)

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Question 104

Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars Sold Trucks Sold Larry 10 5 Joe 9 9 Ralph 3 12 Joe's opportunity cost of selling a car is than Ralph's, and Joe's opportunity cost of selling a car is than Larry's.

(Multiple Choice)

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Question 105

You are the Minister of Trade for a small island country in the South Pacific with the following annual production possibilities curve: You are negotiating a deal with a neighboring island that has the following annual PPC: Refer to the figure above. When the other island's delegate offers to give you 1,000 fish in exchange for 500 coconuts, you:

(Multiple Choice)

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Question 106

Moe divides his time between studying Physics and studying Economics. He has discovered that he can earn grades as shown on this production possibilities curve. Refer to the figure above. If Moe moved from Point A to Point C, his grade in Physics would go down by ______________ his grade in economics.

(Multiple Choice)

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Question 107

If a given production combination is efficient, then it must be:

(Multiple Choice)

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Question 108

When journalists write about outsourcing, they are referring to:

(Multiple Choice)

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Question 109

Showing 101 - 109 of 109

Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars Sold Trucks Sold Larry 10 5 Joe 9 9 Ralph 3 12 For Larry, the opportunity cost of selling a truck is:

The the difference between domestic opportunity costs and international opportunity costs, the the potential benefits of trading with other countries.

If Jane can produce 3 pairs of shoes hourly, while Bob can produce 2, then one can infer that the advantage belongs to .

Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars Sold Trucks Sold Larry 10 5 Joe 9 9 Ralph 3 12 Joe's opportunity cost of selling a car is than Ralph's, and Joe's opportunity cost of selling a car is than Larry's.

If a given production combination is efficient, then it must be:

When journalists write about outsourcing, they are referring to:

Thinking Like an Economist

Supply and Demand

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

Workers, Wages, and Unemployment

Saving and Capital Formation

Money, Prices, and the Federal Reserve

Financial Markets and International Capital Flows

Short-Term Economics Fluctuations: An Introduction

Spending and Output in the Short Run

Stabilizing the Economy: the Role of the Fed

Aggregate Demand, Aggregate Supply, and Inflation

Filters

Exam 2: Comparative Advantage

Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars Sold Trucks Sold Larry 10 5 Joe 9 9 Ralph 3 12 For Larry, the opportunity cost of selling a truck is:

The __________ the difference between domestic opportunity costs and international opportunity costs, the __________ the potential benefits of trading with other countries.

If Jane can produce 3 pairs of shoes hourly, while Bob can produce 2, then one can infer that the __________ advantage belongs to __________.

Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars Sold Trucks Sold Larry 10 5 Joe 9 9 Ralph 3 12 Joe's opportunity cost of selling a car is ______ than Ralph's, and Joe's opportunity cost of selling a car is ______ than Larry's.

If a given production combination is efficient, then it must be:

When journalists write about outsourcing, they are referring to:

Thinking Like an Economist

Supply and Demand

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

Workers, Wages, and Unemployment

Saving and Capital Formation

Money, Prices, and the Federal Reserve

Financial Markets and International Capital Flows

Short-Term Economics Fluctuations: An Introduction

Spending and Output in the Short Run

Stabilizing the Economy: the Role of the Fed

Aggregate Demand, Aggregate Supply, and Inflation

Filters

The the difference between domestic opportunity costs and international opportunity costs, the the potential benefits of trading with other countries.

If Jane can produce 3 pairs of shoes hourly, while Bob can produce 2, then one can infer that the advantage belongs to .

Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars Sold Trucks Sold Larry 10 5 Joe 9 9 Ralph 3 12 Joe's opportunity cost of selling a car is than Ralph's, and Joe's opportunity cost of selling a car is than Larry's.