Exam 1: Limits, Alternatives, and Choices

The production possibilities curve shows:

The slope of a straight line can be determined by:

Purposeful behavior suggests that:

Answer the question on the basis of the data given in the following production possibilities table: $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\underline{\text { Production Possibilities (Alternatives) }}$ Capital Goods 5 4 3 2 1 0 onsumer Goods 0 5 9 12 14 15 Refer to the table.A total output of 3 units of capital goods and 4 units of consumer goods:

(Last Word)Which of the following best illustrates the post hoc,ergo propter hoc fallacy?

Which of the following is a positive statement?

The point on the production possibilities curve that is most desirable can be found by:

You should decide to go to a movie:

In deciding whether to study for an economics quiz or go to a movie,one is confronted by the idea(s)of:

Unemployment:

Ben says that "an increase in the tax on beer will raise its price." Holly argues that "taxes should be increased on beer because college students drink too much." We can conclude that:

The production possibilities curve shows various combinations of two products that an economy can produce when achieving full employment.

The construction of a production possibilities curve assumes:

Which of the following is a correct statement?

An economy cannot produce at a point outside of its production possibilities curve because human economic wants are insatiable.

Economics may best be defined as the:

The slope of the typical production possibilities curve:

Other things equal,an increase in a consumer's money income:

A production possibilities curve shows:

(Last Word)The post hoc fallacy and the correlation problem both relate to: