ECONOMIC QUESTIONS AND GRADED ANSWERS, 100%
GUARANTEE
A nation loses land after being defeated in a war - What could cause a production
possibilties curve to move down and to the left?
All of the goods & services an economy has the ability to produce - Which of the
following is NOT shown on a production possibilities curve?
A taxi drivers knowledge of the city streets - human capital includes:
Saws & drills - The physical capital used by a woodworker to make furniture would
include:
A person wants a endless supply of everything but cannot have it - Which of the following
is an example of scarcity, rather then shortage?
Deciding whether the benefit of working two extra hours per day is worth the sacrifice of study
time - One example of thinking at the margin is:
Iron, natural gas, fertile soil, water - Which of the following lists would an economist
consider to be land?
An artist who runs a business painting murals and office buildings & restaurants - One
example of an entrepreneur is:
Dinner and movie with your friends this Saturday night - You brought two new CDs with
the last $30 in your checking account, and your next payday is Monday. What is the opportunity
Cost of these CDs?
, Technology - A country's production possibilities increase because the available workers
become more skilled at using a computer. This is a example of growth caused by:
Running a service that hires people to install sprinkler systems and lawns - Which of the
following makes someone an entrepreneur
Enough workers to finish two jobs because there is a limited supply of workers - The lack
of which of the following represents a scarcity
The max amount that economy can produce - What does a production possibility frontier
show?
Efficient - How are you describe an economy that uses its resources to make the greatest
possible number of goods and service
Guns or butter - The government of a country must make a decision between spending
money on a hospital or spending the same amount on the border security what kind the decision
is this?
Physical capital - What is a factory building example of?
Whether or not to hire new workers - Which of the following is the kind of decision that
can be made at the margin
The most desirable alternative given up for the decision - What is opportunity cost of a
decision?
Our resources are scarce - What are all goods and service scarce?
The increase in cost resulting and increasingly less output - Production probabilities
furniture's curve when they are charted on a graph because they show:
GUARANTEE
A nation loses land after being defeated in a war - What could cause a production
possibilties curve to move down and to the left?
All of the goods & services an economy has the ability to produce - Which of the
following is NOT shown on a production possibilities curve?
A taxi drivers knowledge of the city streets - human capital includes:
Saws & drills - The physical capital used by a woodworker to make furniture would
include:
A person wants a endless supply of everything but cannot have it - Which of the following
is an example of scarcity, rather then shortage?
Deciding whether the benefit of working two extra hours per day is worth the sacrifice of study
time - One example of thinking at the margin is:
Iron, natural gas, fertile soil, water - Which of the following lists would an economist
consider to be land?
An artist who runs a business painting murals and office buildings & restaurants - One
example of an entrepreneur is:
Dinner and movie with your friends this Saturday night - You brought two new CDs with
the last $30 in your checking account, and your next payday is Monday. What is the opportunity
Cost of these CDs?
, Technology - A country's production possibilities increase because the available workers
become more skilled at using a computer. This is a example of growth caused by:
Running a service that hires people to install sprinkler systems and lawns - Which of the
following makes someone an entrepreneur
Enough workers to finish two jobs because there is a limited supply of workers - The lack
of which of the following represents a scarcity
The max amount that economy can produce - What does a production possibility frontier
show?
Efficient - How are you describe an economy that uses its resources to make the greatest
possible number of goods and service
Guns or butter - The government of a country must make a decision between spending
money on a hospital or spending the same amount on the border security what kind the decision
is this?
Physical capital - What is a factory building example of?
Whether or not to hire new workers - Which of the following is the kind of decision that
can be made at the margin
The most desirable alternative given up for the decision - What is opportunity cost of a
decision?
Our resources are scarce - What are all goods and service scarce?
The increase in cost resulting and increasingly less output - Production probabilities
furniture's curve when they are charted on a graph because they show:
