Exam 3: Interdependence and the Gains From Trade: A Parable for the Modern Economy

Figure 3-9 Uzbekistan's Production Possibilities Frontier Azerbaijan's Production Possibilities Frontier -Refer to Figure 3-9.If the production possibilities frontiers shown are each for two days of production,then which of the following combinations of bolts and nails could Uzbekistan and Azerbaijan together make in a given 2-day production period?

Figure 3-6 Maxine's Production Possibilities Frontier Daisy's Production Possibilities Frontier -Refer to Figure 3-6.If the production possibilities frontier shown for Maxine is for 3 hours of work,then how long does it take Maxine to make one pie?

Figure 3-1 Panel (a) Panel (b) -Refer to Figure 3-1.The rate of tradeoff between producing chairs and producing couches depends on how many chairs and couches are being produced in

Figure 3-5 Hosne's Production Possibilities Frontier Merve's Production Possibilities Frontier -Refer to Figure 3-5.If the production possibilities frontier shown for Merve is for 8 hours of work,then how long does it take Merve to make one purse?

Figure 3-10 Alice and Betty's Production Possibilities in one 8-hour day. Alice's Production Possibilities Frontier Betty's Production Possibilities Frontier -Refer to Figure 3-10.If point A represents Alice's production and point B represents Betty's production,

Figure 3-4 Lisa's Production Possibilities Frontier Bryce's Production Possibilities Frontier -Refer to Figure 3-4.If Bryce must work 4 months to produce each sweater,then his production possibilities frontier is based on how many months of work?

Figure 3-7 Bintu's Production Possibilities Frontier Juba's Production Possibilities Frontier -Refer to Figure 3-7.If the production possibilities frontiers shown are each for 4 hours of work,then which of the following combinations of bowls and cups could Bintu and Juba together make in a given 4-hour production period?

Figure 3-3 Arturo's Production Possibilities Frontier Dina's Production Possibilities Frontier -Refer to Figure 3-3.If the production possibilities frontier shown for Arturo is for 100 hours of production,then how long does it take Arturo to make one burrito?

Figure 3-3 Arturo's Production Possibilities Frontier Dina's Production Possibilities Frontier -Refer to Figure 3-3.If Dina must work 0.25 hour to produce each taco,then her production possibilities frontier is based on how many hours of work?

Suppose there are only two people in the world.Each person's production possibilities frontier also represents his or her consumption possibilities when

A production possibilities frontier (PPF)is characterized by increasing opportunity costs when

Tom produces baseball gloves and baseball bats.Steve also produces baseball gloves and baseball bats,but Tom is better at producing both goods.In this case,trade could

Figure 3-7 Bintu's Production Possibilities Frontier Juba's Production Possibilities Frontier -Refer to Figure 3-7.If the production possibilities frontiers shown are each for 4 hours of work,then which of the following combinations of bowls and cups could Bintu and Juba together not make in a given 4-hour production period?

Figure 3-6 Maxine's Production Possibilities Frontier Daisy's Production Possibilities Frontier -Refer to Figure 3-6.If Daisy must work 2.5 hours to make each pie,then her production possibilities frontier is based on how many hours of work?

Figure 3-3 Arturo's Production Possibilities Frontier Dina's Production Possibilities Frontier -Refer to Figure 3-3.If the production possibilities frontiers shown are each for one day of production,then which of the following combinations of tacos and burritos could Arturo and Dina together produce in a given day?

Figure 3-6 Maxine's Production Possibilities Frontier Daisy's Production Possibilities Frontier -Refer to Figure 3-6.If Maxine and Daisy each divides her time equally between making pies and making tarts,then total production is

Figure 3-7 Bintu's Production Possibilities Frontier Juba's Production Possibilities Frontier -Refer to Figure 3-7.If the production possibilities frontier shown for Juba is for 2 hours of work,then how long does it take Juba to make one bowl?

Figure 3-4 Lisa's Production Possibilities Frontier Bryce's Production Possibilities Frontier -Refer to Figure 3-4.If Lisa and Bryce both spend all of their time producing jackets,then total production is

Figure 3-4 Lisa's Production Possibilities Frontier Bryce's Production Possibilities Frontier -Refer to Figure 3-4.If the production possibilities frontiers shown are each for one year of working,then which of the following combinations of jackets and sweaters could Lisa and Bryce together produce in a given year?

A professor spends 10 hours per day giving lectures and writing papers.For the professor,a graph that shows his various possible mixes of output (lectures given per day and papers written per day)is called his