Figure 2.14 200 100 140 120 100 60 40 20 20 40 60 120 140 160 180 4,1, Consider

Question

Figure 2.14 200 100 140 120 100 60 40 20 20 40 60 120 140 160 180 4,1, Consider the production possibilities curve for a country that can produce sweaters, apples (in bushels). or a combination of the two. 39. Refer to Figure 2-14. If this economy devotes all of its available resources to producing apples then it will produce a. O bushels of apples and 200 sweaters. b. 80 bushels of apples and 160 sweaters c. 180 bushels of apples and 200 sweaters. d. 180 bushels of apples and 0 sweaters. 40. Refer to Figure 2-14. Which combination of points show production possibilities only achievable with improvements in technology or increases in resources? a· b. Q,R,U,and V Sand X C. d. T and Ww None of the above is correct. 41. Refer to Figure 2-14. If this society moves from point U to point v o. it gives up 40 bushels of apples to get 80 sweaters. b. it gives up 140 bushels of apples to get 80 sweaters. c. it gives up 80 sweaters to get 140 bushels of apples d. it gives up 80 sweaters to get 40 bushels of apples. 42. Refer to Figure 2-14. If this society is producing at point T, a. there is high unemployment. b. production is efficient. growth can only be achieved through an advancement in technology c d. the opportunity cost of producing one more sweater is approximately 40 bushels of apples 43. Refer to Figure 2-14. The opportunity cost of moving from point U to point R is a. 60 bushels of apples. b. 80 bushels of apples. C. 80 sweaters. d. 160 sweaters

Explanation / Answer

Ans:

39) Option D

180 bushels of apples and 0 sweaters

40) Option B

S and X

41) Option D

it gives up 80 sweaters to get 40 bushels of apples.

42) Option A

there is high unemployment

43) Option A

60 bushels of apples

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