Homework Answers
a) "D"
As the production of the capital good is zero all the resources in the economy are used to produce consumption goods.
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Question 1 10 points Save Exhibit 2.10 Production possibilities curve data co E Capital goods Consumption...
Name: ID: A Exhibit 2-10 Production possibilities curve data Capital goods Consumption goods 23 19 13...
Name: ID: A Exhibit 2-10 Production possibilities curve data Capital goods Consumption goods 23 19 13 1 11. Suppose an economy is faced with the production possibilities table shown in Exhibit 2-10. As additional units of capital goods are being produced, the number of consumption goods produced must because increase; the production possibility table shows only the maximum efficiency points increase; of the law of increasing costs decrease; of the law of increasing costs decrease; of the finite nature of...
Question 8 Exhibit 2-13 Production possibilities curve Consumption goods Capital goods In Exhibit 2-13, the combination...
Question 8 Exhibit 2-13 Production possibilities curve Consumption goods Capital goods In Exhibit 2-13, the combination of goods given by point H could: never be achieved by this economy be achieved today if the economy achieved full employment be achieved today if the economy achieved maximum efficiency. not be achieved today. be achieved today with the proper allocation of resources, A Moving to another question will save this response.
Exhibit 2-1 Production possibilities curv e data Consumption Goods Capital Goods 10 4 4 In Exhibit...
Exhibit 2-1 Production possibilities curv e data Consumption Goods Capital Goods 10 4 4 In Exhibit 2-1, why is the opportunity cost of producing the fourth unit of capital 4 units of consumption goods but ty cost of producing 4 units of capital is 10 units of consumption goods? Because the opportunity cost of capital goods is constant while the opportunity cost of consumption goods is g as this economy moves from more consumption goods to more capital goods. Because...
Exhibit 2-17 Production possibilities curve Consumption goods Capital goods In Exhibit 2-17, if countries A and...
Exhibit 2-17 Production possibilities curve Consumption goods Capital goods In Exhibit 2-17, if countries A and B currently have the same production possibilities curve (PPC) as given in the figure, but this year country A locates at point A on its PPC and country B locates at point B on its PPC, then country A: a. is more efficient than country B. b. is producing more capital goods than country B. O c. will grow at a faster rate than...
Exhibit 2-16 Production possibilities curve Consumption goods 0 1 1TVO 2 3 4 5 6 7...
Exhibit 2-16 Production possibilities curve Consumption goods 0 1 1TVO 2 3 4 5 6 7 Capital goods 1. In Exhibit 2-16, which of the following points on the production possibilities curve are unattainable with the resources and technology currently available? a. B, C, D, U b. A, B, C, D, U c. E and W d. A, B, C, U e. A, B, C, D In Exhibit 2-16, which of the following points on the production possibilities curve are...
An economy produces two goods: capital goods and consumer goods. Points on the production possibilities curve...
An economy produces two goods: capital goods and consumer goods. Points on the production possibilities curve appear below: 2. roduction alternatives Capital ds per period Consumer goods per period 2018 14 8 A. If the economy is producing at alternative X, the opportunity cost of producing at Y instead of X is period a. 0 C. The production of 14 units of consumer goo and 1 unit of capital goods per period would a. result in full employment b. result...
Question 57 3.75 pts Exhibit 2-7 Production possibilities curve 400 A Cars 300 (millions per year)...
Question 57 3.75 pts Exhibit 2-7 Production possibilities curve 400 A Cars 300 (millions per year) 200 e 100 0 100 200 300 400 Grain (millions of tons per year) For the economy shown in Exhibit 2-7, which of the following is true when the economy Is at point A? Increased grain production would be impossible More cars are being produced than are needed. There must be resources that are not being used fully Some car production must be forgone...
Exhibit 1 Total utility for hamburgers, fries, and Cokes Total Uitility from Hamburgers Total Utility from...
Exhibit 1 Total utility for hamburgers, fries, and Cokes Total Uitility from Hamburgers Total Utility from Fries Total Utility from Coke 1 hamburger (100 utils) 2 hamburgers (180 utils) 3 hamburgers (240 utils) 1 order of fries (30 utils) 1 Coke (40 utils) 2 orders of fries (50 utils) 2 Cokes (60 utils) 3 orders of fries (60 utils) 3 Cokes (70 utils) 3- In Exhibit 1 assume that the price of utility of having a second order of fries?...
Question 13 (3 points) A production possibilities curve shows: O combinations of capital and labor necessary...
Question 13 (3 points) A production possibilities curve shows: O combinations of capital and labor necessary to produce specific levels of output. that resources are unlimited. that people prefer one of the goods more than the other. the maximum amounts of two goods that can be produced assuming the full use of available resources.
Question 54 3.75 pts Exhibit 2-2 Production possibilities curve 10 A 8 Corn om (millions of...
Question 54 3.75 pts Exhibit 2-2 Production possibilities curve 10 A 8 Corn om (millions of bushels С 4 --- D 2 - 1 0 2 5 1 3 4 Coffee (millions of bushels) The production possibilities in Exhibit 2-2 indicates that the opportunity cost of cornis Indeterminate Zero decreasing Increasing constant
Name: ID: A Exhibit 2-10 Production possibilities curve data Capital goods Consumption goods 23 19 13 1 11. Suppose an economy is faced with the production possibilities table shown in Exhibit 2-10. As additional units of capital goods are being produced, the number of consumption goods produced must because increase; the production possibility table shows only the maximum efficiency points increase; of the law of increasing costs decrease; of the law of increasing costs decrease; of the finite nature of...
Question 8 Exhibit 2-13 Production possibilities curve Consumption goods Capital goods In Exhibit 2-13, the combination of goods given by point H could: never be achieved by this economy be achieved today if the economy achieved full employment be achieved today if the economy achieved maximum efficiency. not be achieved today. be achieved today with the proper allocation of resources, A Moving to another question will save this response.
Exhibit 2-1 Production possibilities curv e data Consumption Goods Capital Goods 10 4 4 In Exhibit 2-1, why is the opportunity cost of producing the fourth unit of capital 4 units of consumption goods but ty cost of producing 4 units of capital is 10 units of consumption goods? Because the opportunity cost of capital goods is constant while the opportunity cost of consumption goods is g as this economy moves from more consumption goods to more capital goods. Because...
Exhibit 2-17 Production possibilities curve Consumption goods Capital goods In Exhibit 2-17, if countries A and B currently have the same production possibilities curve (PPC) as given in the figure, but this year country A locates at point A on its PPC and country B locates at point B on its PPC, then country A: a. is more efficient than country B. b. is producing more capital goods than country B. O c. will grow at a faster rate than...
Exhibit 2-16 Production possibilities curve Consumption goods 0 1 1TVO 2 3 4 5 6 7 Capital goods 1. In Exhibit 2-16, which of the following points on the production possibilities curve are unattainable with the resources and technology currently available? a. B, C, D, U b. A, B, C, D, U c. E and W d. A, B, C, U e. A, B, C, D In Exhibit 2-16, which of the following points on the production possibilities curve are...
An economy produces two goods: capital goods and consumer goods. Points on the production possibilities curve appear below: 2. roduction alternatives Capital ds per period Consumer goods per period 2018 14 8 A. If the economy is producing at alternative X, the opportunity cost of producing at Y instead of X is period a. 0 C. The production of 14 units of consumer goo and 1 unit of capital goods per period would a. result in full employment b. result...
Question 57 3.75 pts Exhibit 2-7 Production possibilities curve 400 A Cars 300 (millions per year) 200 e 100 0 100 200 300 400 Grain (millions of tons per year) For the economy shown in Exhibit 2-7, which of the following is true when the economy Is at point A? Increased grain production would be impossible More cars are being produced than are needed. There must be resources that are not being used fully Some car production must be forgone...
Exhibit 1 Total utility for hamburgers, fries, and Cokes Total Uitility from Hamburgers Total Utility from Fries Total Utility from Coke 1 hamburger (100 utils) 2 hamburgers (180 utils) 3 hamburgers (240 utils) 1 order of fries (30 utils) 1 Coke (40 utils) 2 orders of fries (50 utils) 2 Cokes (60 utils) 3 orders of fries (60 utils) 3 Cokes (70 utils) 3- In Exhibit 1 assume that the price of utility of having a second order of fries?...
Question 13 (3 points) A production possibilities curve shows: O combinations of capital and labor necessary to produce specific levels of output. that resources are unlimited. that people prefer one of the goods more than the other. the maximum amounts of two goods that can be produced assuming the full use of available resources.
Question 54 3.75 pts Exhibit 2-2 Production possibilities curve 10 A 8 Corn om (millions of bushels С 4 --- D 2 - 1 0 2 5 1 3 4 Coffee (millions of bushels) The production possibilities in Exhibit 2-2 indicates that the opportunity cost of cornis Indeterminate Zero decreasing Increasing constant
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