Question 1 attainable and has full employment of all resources. attainable and h
ID: 1090761 • Letter: Q
Question
Question 1
attainable and has full employment of all resources.
attainable and has less than full employment of all resources.
unattainable because it has less than full employment of all resources.
unattainable.
More information is needed to determine if the point is attainable or not.
1 points
Question 2
a point with a free lunch.
a point with no trade off.
an unattainable point.
a point at which there are unemployed resources.
an attainable point.
1 points
Question 3
In order for Ireland to grow more potatoes, wool production must decrease. This situation is an example of
zero opportunity cost.
a free lunch.
producing at a point that lies beyond the PPF.
opportunity benefit.
a tradeoff.
1 points
Question 4
When all of the available factors of production are being efficiently employed, the
economy is producing at a point on its PPC.
economy is producing at a point within its PPC.
economy is producing at a point beyond its PPC.
opportunity cost of changing production is infinite.
PPC disappears.
1 points
Question 5
Why does a nation experience increasing opportunity cost?
As the nation moves from a production point within the PPC to another point also within the PPC, opportunity costs increase.
When the amount of resources increases, the opportunity cost of all goods and services increases.
Because the nation cannot produce at the unattainable production points that lie beyond the PPC.
As the nation moves from a production point within the PPC to one on the PPC, opportunity costs increase.
Resources are not equally productive in producing different kinds of goods and services.
1 points
Question 6
The production possibilities curve illustrates the
maximum combinations of goods and services that can be produced.
goods and services that people want.
resources the economy possess, but not its level of technology.
amount of each good that people want to buy.
limits to people's wants.
1 points
Question 7
If the production possibilities curve between two goods were a straight line, then the opportunity cost of one good in terms of another would be
zero.
decreasing.
increasing.
constant.
either constant, increasing, or decreasing but more information is needed to determine which.
1 points
Question 8
an attainable point with unemployed resources.
the minimum quantity of pizza that can be produced.
the maximum quantity of pizza that can be produced.
an unattainable point.
More information is needed to determine which of the above answers is correct.
1 points
Question 9
resources are not being used efficiently and/or are unemployed.
production of SUVs and compact cars is maximized.
technology associated with producing SUVs and compact cars is advancing.
resources are being used efficiently.
None of the above answers are correct because it is not possible to produce at point D.
1 points
Question 10
As population increases,
all opportunity costs increase.
the PPC shifts inward because unemployment occurs.
the PPC shifts outward.
a country moves toward the midpoint along its PPC and can produce more of both goods.
all opportunity costs decrease.
attainable and has full employment of all resources.
attainable and has less than full employment of all resources.
unattainable because it has less than full employment of all resources.
unattainable.
More information is needed to determine if the point is attainable or not.
Explanation / Answer
1)unattainable.
2)an unattainable point
3)a tradeoff.
4)economy is producing at a point within its PPC
5)When the amount of resources increases, the opportunity cost of all goods and services increases
6)maximum combinations of goods and services that can be produced
7)either constant, increasing, or decreasing but more information is needed to determine which
8)an attainable point with unemployed resources
9)resources are not being used efficiently and/or are unemployed.
10)a country moves toward the midpoint along its PPC and can produce more of both goods
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