Test Bank for Comparative Health Systems, 2nd Edition by James A. Johnson.pdf

1n
Copyrightn©n2018nPearsonnCanada,nInc.n
Macroeconomics,nSecondnCanadiannEditionn(Hubbard)n
Chaptern2nnnTrade-offs,nComparativenAdvantage,nandnthenMarketnSystemn
2.1nnnProductionnPossibilitiesnFrontiersnandnOpportunitynCostsn
1)nScarcityn
A)nstemsnfromnthenincompatibilitynbetweennlimitednresourcesnandnunlimitednwants.n
B)ncannbenovercomenbyndiscoveringnnewnresources.n
C)ncannbeneliminatednbynrationingnproducts.n
D)nisnanbiggernproblemninnmarketneconomiesnthanninnsocialistneconomies.n
Answer:nnAn
Diff:n2nnnnnnPagenRef:n36n
Topic:nnScarcityn
LearningnOutcome:nn2.1nnUsenanproductionnpossibilitiesnfrontierntonanalyzenopportunityncosts
nandntrade-offsn

AACSB:nnReflectivenThinkingn
SpecialnFeature:nnNonen
2)nToyotanbuiltnannassemblynplantninnWoodstock,nOntario.nAtnthisnplant,nToyotanisnablentontak
enadvantagen
ofnpayingnlowerntransportationncostsnonncarsntonbensoldninnCanadanthannitnwouldnfromnitsnJap
anesen
assemblynplants,nbutnitnalsonsacrificesntheneasenofnsupervisingnitsnJapanesenworkers,nwhongen
erallynhaven
highnskillsnlevelsnandnfewnlabourndisputes.nInndecidingntonopennthenWoodstocknplant,nToyotan
A)nfacednnontrade-offsnbecausenemployingnlower-wagenworkersnincreasednefficiency.n
B)nfacednantrade-offnbetweenncostnandnconvenience.n
C)nadoptednannegativentechnologicalnchangenbecausenitnreplacednhigh-
skillednworkersnwithnlow-skilledn
workers.n
D)nerodednsomenofnitsncompetitivenessninnthenluxuryncarnmarketnbecausenofnitsndecreasednco
stnofn
production.n
Answer:nnBn
Diff:n2nnnnnnPagenRef:n35n
Topic:nnOpportunitynCostn
2CE:nnClassicn(1CE)-nupdatednforn2CEn
LearningnOutcome:nn2.1nnUsenanproductionnpossibilitiesnfrontierntonanalyzenopportunityncosts
nandntrade-offsn

AACSB:nnAnalyticnSkillsn
SpecialnFeature:nnChapternOpener:nManagersnMakingnChoicesnatnBMWn
3)nThenprinciplenofnopportunityncostnisnthatn
A)ninnanmarketneconomy,ntakingnadvantagenofnprofitablenopportunitiesninvolvesnsomenmone
yncost.n

,B)ntheneconomicncostnofnusingnanfactornofnproductionnisnthenalternativenusenofnthatnfactornthat
nisngivennup.n

C)ntakingnadvantagenofninvestmentnopportunitiesninvolvesncosts.nn
D)nthencostnofnproductionnvariesndependingnonnthenopportunitynforntechnologicalnapplication
.nn
Answer:nnBn
Diff:n3nnnnnnPagenRef:n36n
Topic:nnOpportunitynCostn
LearningnOutcome:nn2.1nnUsenanproductionnpossibilitiesnfrontierntonanalyzenopportunityncosts
nandntrade-offsn

AACSB:nnReflectivenThinkingn
SpecialnFeature:nnNonen
DOWNLOADnTHEnTestnBanknfornMacroeconomicsn2ndnEditionnHubbard
mynursytest.store
2n
Copyrightn©n2018nPearsonnCanada,nInc.n
4)nThenproductionnpossibilitiesnfrontiernshowsnthen________ncombinationsnofntwonproductsnth
atnmaynben
producedninnanparticularntimenperiodnwithnavailablenresources.n
A)nminimumnattainablen
B)nmaximumnattainablen
C)nonlyn
D)nequitablen
Answer:nnBn
Diff:n2nnnnnnPagenRef:n36n
Topic:nnProductionnPossibilitiesnFrontiersn
LearningnOutcome:nn2.1nnUsenanproductionnpossibilitiesnfrontierntonanalyzenopportunityncosts
nandntrade-offsn

AACSB:nnReflectivenThinkingn
SpecialnFeature:nnNonen
5)nThenproductionnpossibilitiesnfrontiernmodelnshowsnthatn
A)nifnconsumersndecidentonbuynmorenofnanproductnitsnpricenwillnincrease.nn
B)nanmarketneconomynisnmorenefficientninnproducingngoodsnandnservicesnthannisnancentrallynp
lannedn
economy.n
C)neconomicngrowthncannonlynbenachievednbynfreenmarketneconomies.n
D)nifnallnresourcesnarenfullynandnefficientlynutilized,nmorenofnonengoodncannbenproducednonlyn
byn
producingnlessnofnanotherngood.n
Answer:nnDn
Diff:n2nnnnnnPagenRef:n36n
Topic:nnProductionnPossibilitiesnFrontiersn
LearningnOutcome:nn2.1nnUsenanproductionnpossibilitiesnfrontierntonanalyzenopportunityncosts

,nandntrade-offsn
AACSB:nnAnalyticnSkillsn
SpecialnFeature:nnNonen
6)nThenproductionnpossibilitiesnfrontiernmodelnassumesnwhichnofnthenfollowing?n
A)nLabour,ncapital,nlandnandnnaturalnresourcesnarenunlimitedninnquantity.n
B)nTheneconomynproducesnonlyntwonproducts.nn
C)nAnynlevelnofnthentwonproductsnthatntheneconomynproducesnisncurrentlynpossible.n
D)nThenlevelnofntechnologynisnvariable.n
Answer:nnBn
Diff:n2nnnnnnPagenRef:n36n
Topic:nnProductionnPossibilitiesnFrontiersn
LearningnOutcome:nn2.1nnUsenanproductionnpossibilitiesnfrontierntonanalyzenopportunityncosts
nandntrade-offsn

AACSB:nnReflectivenThinkingn
SpecialnFeature:nnNonen
7)nThenattainablenproductionnpointsnonnanproductionnpossibilityncurvenaren
A)nthenhorizontalnandnverticalnintercepts.n
B)nthenpointsnalongnthenproductionnpossibilitiesnfrontier.n
C)nthenpointsnoutsidenthenareanenclosednbynthenproductionnpossibilitiesnfrontier.n
D)nthenpointsnalongnandninsidenthenproductionnpossibilitynfrontier.n
Answer:nnDn
Diff:n2nnnnnnPagenRef:n36n
Topic:nnProductionnPossibilitiesnFrontiersn
LearningnOutcome:nn2.1nnUsenanproductionnpossibilitiesnfrontierntonanalyzenopportunityncosts
nandntrade-offsn

AACSB:nnReflectivenThinkingn
SpecialnFeature:nnNonen
DOWNLOADnTHEnTestnBanknfornMacroeconomicsn2ndnEditionnHubbard
mynursytest.store
3n
Copyrightn©n2018nPearsonnCanada,nInc.n
8)nThenpointsnoutsidenthenproductionnpossibilitiesnfrontiernaren
A)nefficient.n
B)nattainable.n
C)ninefficient.n
D)nunattainable.n
Answer:nnDn
Diff:n2nnnnnnPagenRef:n37n
Topic:nnProductionnPossibilitiesnFrontiersn
LearningnOutcome:nn2.1nnUsenanproductionnpossibilitiesnfrontierntonanalyzenopportunityncosts
nandntrade-offsn

AACSB:nnReflectivenThinkingn
SpecialnFeature:nnNonen

, Figuren2.1
9)nReferntonFiguren2.1.nPointnAnisn
A)ntechnicallynefficient.n
B)nunattainablenwithncurrentnresources.n
C)ninefficientninnthatnnotnallnresourcesnarenbeingnused.nn
D)nthenequilibriumnoutputncombination.n
Answer:nnCn
Diff:n1nnnnnnPagenRef:n37n
Topic:nnProductionnPossibilitiesnFrontiersn
LearningnOutcome:nn2.1nnUsenanproductionnpossibilitiesnfrontierntonanalyzenopportunityncosts
nandntrade-offsn

AACSB:nnReflectivenThinkingn
SpecialnFeature:nnNonen
10)nReferntonFiguren2.1.nPointnBnisn
A)ntechnicallynefficient.n
B)nunattainablenwithncurrentnresources.n
C)ninefficientninnthatnnotnallnresourcesnarenbeingnused.nn
D)nthenequilibriumnoutputncombination.n
Answer:nnAn
Diff:n1nnnnnnPagenRef:n37n
Topic:nnProductionnPossibilitiesnFrontiersn
LearningnOutcome:nn2.1nnUsenanproductionnpossibilitiesnfrontierntonanalyzenopportunityncosts
nandntrade-offsn

AACSB:nnReflectivenThinkingn
SpecialnFeature:nnNonen
DOWNLOADnTHEnTestnBanknfornMacroeconomicsn2ndnEditionnHubbard
mynursytest.store
4n
Copyrightn©n2018nPearsonnCanada,nInc.n
11)nReferntonFiguren2.1.nPointnCnisn
A)ntechnicallynefficient.n
B)nunattainablenwithncurrentnresources.n
C)ninefficientninnthatnnotnallnresourcesnarenbeingnused.nn
D)nisnthenequilibriumnoutputncombination.n
Answer:nnBn
Diff:n1nnnnnnPagenRef:n37n
Topic:nnProductionnPossibilitiesnFrontiersn
LearningnOutcome:nn2.1nnUsenanproductionnpossibilitiesnfrontierntonanalyzenopportunityncosts
nandntrade-offsn

AACSB:nnReflectivenThinkingn
SpecialnFeature:nnNonen
12)nReferntonFiguren2.1.nAtnpointnAnthenopportunityncostnofnproducingnmorenSUVsnisn
A)n0nroadsters.n