Foundations Of Macroeconomics, 5E (Bade/Perkin)

Foundations of Macroeconomics, 5e (Bade/Perkin) Chapter 3 The Economic Problem 3.1 exertion Possibilities 1) The United States produced nigh ________ expense of equitables and advantages in 2007. A) $14 one thousand million B) $14 billion C) $ cxl trillion D) $140 billion E) $1,400 trillion final result: A Topic: Production possibilities deed: Level 1: Definition department: Checkpoint 3.1 post: SB AACSB: contemplative thinking 2) Which of the following is an assumption utilise when outline a production possibilities term? i.Human wants and desires ar limited to what is available. ii.Only devil unassailables are considered. iii.The level of engine room is fixed and unchanging. A) i only B) ii only C) i and iii D) ii and iii E) i, ii, and iii manage: D Topic: Production possibilities enclosure Skill: Level 2: victimisation definitions character: Checkpoint 3.1 side: TS AACSB: Reflective thinking 3) In the production possibilities model, the outrageous axis measures ________ and the horizontal axis measures ________.

A) the mensuration of a skillful or service; the measuring of another good or service B) the price of a good or service; the quantity of the good or service C) the price of a good or service; the price of another good or service D) the quantity of a good or service; time E) states wants; the quantity of a good or service Answer: A Topic: Production possibilities frontier Skill: Level 2: Using definitions Section: Checkpoint 3.1 Status: MR AACSB: Reflective thinking 4) The production possibilities frontier illustrates the A) maximum com binations of goods and operate that can be ! produced. B) resources the economy possess, but not its level of technology. C) goods and services that stack want. D) limits to peoples wants. E) amount of each good that people want to buy. Answer: A Topic: Production possibilities frontier Skill: Level 1: Definition Section: Checkpoint 3.1 Status: PH AACSB: Reflective thinking...If you want to get a bounteous essay, order it on our website: OrderEssay.net

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