production possibilities frontier outward? O A. An increase in the capital stock. O B. An increase in the labour force. O C. An advance in technology. O D. A reduction in unemployment.
Q: Which of the following is a microeconomics question? Select one: O a. Why do some countries grow…
A: As wants and desires of the individuals in the economy are unlimited but the resources possessed by…
Q: Which of these words do not belong to the group? O a. National income O b. Local culture O c. Price…
A: Local culture is not part of macroeconomics.
Q: Which of the following statements are normative and which are positive? 1. When the inflation rate…
A: Meaning of Economics: The term economics refers to the situation under which there remains a…
Q: Productivity refers to the amount of goods and services produced in a certain country. Select one: O…
A: GDP stands for gross domestic product. GDP is the value of all final goods and services newly…
Q: Refer to the diagram. E H B F Consumer Goods Technological advance that is useful in producing…
A: A PPF or Production possibility curve is a graph showing the production of the combination of two…
Q: A nation that devotes more of its resources to the production of capital goods is likely to: a)…
A: Capital investment is characterized as an amount of money procured by an organization to seek after…
Q: Which of the following is NOT an objective of macroeconomics? O A. A high and growing level of…
A: Macroeconomics is that branch of economics in which we study the economic problem and issues at a…
Q: Why is total efficiency units of labor used as an indicator of how much the economy can produce? O…
A: As a way of measuring how well/efficient, the performance of the workforce is, the method that is…
Q: The primary reason that living standards in some countries are higher today than they were a century…
A: * ANSWER :- From the above information the answer is provided below.
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A: Economics is the study of production, distribution, and consumption when the resources are scarce in…
Q: a. Suppose that businesses buy a total of $140 billion of the four resources (labor, land, capital,…
A: The circular flow of income is an economic model that represents economic transactions in a market…
Q: All of the following basic economic questions deal with microeconomics EXCEPT: O a. How is the…
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: 2/3 With the production function Y A+KL,if we double, we get an increasing returns production. OA.…
A: Given: Yt=AtKt13Lt23where,A=Stock of ideaK=CapitalL=Labor Since A is given as stock of ideas, this…
Q: Economists make assumptions Select one: O a. because all scientists make assumptions O b. to reduce…
A: Option C is correct answer To make the world easier to understand
Q: The opportunity cost of every investment in capital goods is O absolute advantage. current…
A: Opportunity cost: It means that while choosing one alternative, another alternative is lost.
Q: A: How can explain the micro economics in this advanced age? B: Define the term production?
A: Answer for A part:
Q: Which of the following is NOT a concern for macroeconomics? O A. The level of unemployment caused by…
A: Microeconomics manages costs and production in single markets and the connection between various…
Q: Which of the following is a microeconomics question? Select one: O a. Is it sensible for a…
A: Microeconomics is a branch of economics that deals with issues concerning an individual, individual…
Q: In a market economy. O a. economic output shrinks as we discover better ways of doing things. O b.a…
A: Option A is correct
Q: Which one of the following is a Normative statement? O a. Popcom and chocolates are sold in movie…
A: Normative statements are those kind of statements in economics that talk about the value judgement…
Q: A real quantity is a quantity measured: Select one: O a. in physical terms. O b. using real prices.…
A: The real quantity is the actual quantity produced in the particular time period.
Q: The problem of choosing the appropriate production techniques refers to which type of economic…
A: Let's answer each of the following questions one by one along with the reasons behind them.
Q: Which of the following is a topic studied in Macroeconomics? Select one: O a. aggregate behavior of…
A: Macroeconomics is the part of economics in which we study economics as a whole about performance,…
Q: QUESTION 19 Which of the following is a microeconomic statement? O A. The real domestic output…
A: Microeconomics deals with individual firms and goods. Macroeconomics deals with the whole economy as…
Q: Which of the following ismes is more likely to be studied in Macroeconomics than Microeconomics? O…
A: Macroeconomics is the discipline of economics concerned with the overall structure, performance,…
Q: An economy produces two goods, clothing and petroleum. Which of the following would explain a pivot…
A: Inward shift in PPF:- 1) Major storms, flooding, and other major hazards can be disastrous to a…
Q: All of the following economic questions deal with microeconomics EXCEP a. Are the country's…
A: Microeconomics is the investigation of people, families and firms' conduct in dynamic and portion of…
Q: Any point inside the production possibilities curve indicates. O A. the presence of technological…
A: PPC: It is used to measure production efficiency based on the available resources.
Q: An economy produces two goods, clothing and petroleum. Which of the following would explain a pivot…
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…
Q: A country operates inside its production possibilities curve; this may be caused by unemployment. O…
A: Correct : unemployment
Q: Identify the type of central economic problem that is related to problem of choice of what to…
A: Economics is the social science that discusses the behavior of different variables that affect the…
Q: By going to school an individual will obtain which "factor of production"? O Money. O Physical…
A: the factor of production tells us about the various items needed in the production process and which…
Q: Suppose that an economy's capital increases so that the labor-capital ratio decreases. According to…
A: Economic capital is a risk indicator that is based on capital. It is the amount of capital necessary…
Q: F1/3 72/3 The production function Y = AK"L describes %3D O a. how any amount of capital and a…
A: A production function, in general, is a representation of how the quantity of output changes as a…
Q: The value of what Burger King produces in France is included in the United States and in the French.…
A: The value of Burger King produces in France would be included in the French GDP because it is…
Q: Which of the following is not a scarce resource? Select one: O a. Sunshine for solar power in the…
A: Since you have asked multiple questions, we are answering the first one for you. If you want the…
Q: In the context of the circular flow of economic activity, which of the following would NOT be a…
A: Answer : B. Provisions of factors of production
Q: Production Possibility Frontier (PPF) B 79. Product B Copyright 2003 - Investopedia.com Any point…
A: Economics is a social science that discusses human behavior regarding their unlimited wants in terms…
Q: The unintended consequences of an economic change that are not immediately identifiable but are felt…
A: Economics is a branch of social science that deals with the production, distribution, and…
Q: a. What is the opportunity cost of producing 25 more units of capital goods if this economy is…
A: A production possibility curve shows various combinations of two goods that an economy can produce…
Q: Jew theories of economic growth emphasise that the pace of technological change is p economic…
A: An increase in the production of economic services and goods when being compared from one time…
Q: Which of the following is a macroeconomic question? How many textbooks should be published by a…
A: Unemployment rate: - it is the percentage of people out of the total labor force who are able and…
Q: O A. Production-possibilities curve will shift outward. B. Production-possibilities curve will shift…
A: The production possibility curve, abbreviated as PPC, depicts all of the performance combinations…
Q: The amount of capital in an economy is a(n). while the amount of investment is a(n) Select one: O a.…
A: Stock in economics is measured at a specific time and it is a quantity that exist at a specific…
Q: Actual output equals potential output... A. On the production possibilities curve O B. Within the…
A: Production possibility curve shows the combination of Production of two different goods with the…
Q: which of the following questions is not a microeconomic question? oa. why is wealth unequally…
A:
Q: Which of the following is NOT an objective of macroeconomics? O A. A high and growing level of…
A: Macroeconomics is a part of financial matters that concentrates on how a general economy—the market…
Q: n of the following is not correct? A typical production possibilities curve indicates how much O…
A: The production possibility curve shows the different combinations of two goods that can be produced…
Q: Which of the following would shift a country's production possibilities curve inward? O A reduction…
A: Inflation rate or interest rate doesn't impact PPF, so (1) and (2) are false. Lower labor force…
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- 01 20 wered For each fancy dress Cafilla produces, it gives up the opportunity to make 50 pounds of cheese. Bodoni can produce one fancy dress for every 100 pounds of cheese it produces. If specialization and trade were to occur between these two countries, which of the following would be consistent with the theory of comparative advantage? O a. Bodoni has the comparative advantage in only dresses. O b. Cafilla has the comparative advantage in only cheese. O c. Cafilla has the comparative advantage in only dresses. O d. Bodoni has the comparative advantage in dresses and cheese. O e. Cafilla has the comparative advantage in dresses and cheese. D AssignmentMain.do?takeAssignmentSession Locator assignment-take,0896c4f4-0518-431a-b10a-1cd73a8289c4# Show -9 bike 2 bike jpg.jpg bike 2.jpg T ▬▬ 6:5 6/12/2 ➡+ prt so R % 5 L G B O Y I & 7 x 8 l J C IAA 00 M 9 K fio ► 11 O ENG S DFor each watch Marina produces, it gives up the opportunity to make 50 pounds of cheese. Cambria can produce one watch for every 100 pounds of cheese it produces. If specialization and trade were to occur betwee these two countries, which of the following is true with regard to opportunity costs in the two countries? O a. The opportunity cost of producing cheese is higher in Marina than Cambria. O b. The opportunity cost of producing cheese is identical in both countries. O c. In both countries combined, the opportunity cost of one watch is 150 pounds of cheese. Od. The opportunity cost of producing watches is lower in Cambria than Marina. Oe. The opportunity cost of producing watches is higher in Marina than Cambria.A production possibilities frontier (PPF) is O A. a curve that shows the potential productive capabilities of the frontier (defined as the area outside of cities) of a developing economy. O B. a curve showing the maximum attainable combinations of two products that may be produced with available resources and current technology. C. a curve showing the generally attainable combinations of two products that may be produced with all planned or potential, yet undeveloped technology. O D. a curve that illustrates the demand of two goods for the average consumer.
- According to the law of comparative advantage, O a individuals and nations gain when they specialize in producing those goods they consume. Ob individuals and nations gain when they specialize in producing goods they can produce at a high opportunity cost and can exchange for other desired goods they can produce cheaply. individuals and nations gain when they specialize in producing those items for which they are the low opportunity cost producers and De exchange for other desired goods they can't produce as cheaply. O d. all of the above are true.Which is NOT TRUE regarding the diffusion of the printing press and printed books in Europe? O It helped the free exchange of ideas. O It helped facilitate the Italian Renaissance. It increased the importance of clergy in the production of knowledge, since they owned the presses. It helped destabilize traditional society. O Printing brought literacy to adults, especially males as female literacy lagged far behind.Time le If in a previously fully employed economy, some workers were to become unemployed, how would you show this change on the production possibility frontier? Select one: O a. The PPF would shift outward. O b. The PPF would shift inward. O c. The PPF would pivot inwards O d. The PPF would pivot outwards O e. The point representing output on the PPF would shift inside the line. Next
- What happens if a country produces a combination of goods that efficiently uses all of the resources available in the economy? 100- O A. The country has eliminated scarcity. O B. The country is maximizing its opportunity cost. A 80- c. The country is operating on its production possibilities frontier. B G O D. All of the above occur if a country uses all available resources. 60- Refer to the graph to the right. What is the opportunity cost of moving from point B to point C? 40- O A. 40 sedans 30 F **... O B. 40 SUVS D 20- O C. 20 sedans O D. 20 SUVS 10 50 E 20 40 60 80 100 Quantity of SUVS produced per day Quantity of sedans produced per dayThe consumption possibilities frontier shows O a. a nation's opportunity cost of producing different goods for consumption. O b. possible mbinations of goods that residents of a nation consume at different income levels. O c. a nation's possible combinations of how much of one good exchanges for another. O d. the difference between the most that consumers would pay for a good and the actual amount they pay. possible combinations of goods available as a result of specialization and exchange. O e. a nation's bike 2 A H bike 2.jpg bike jpg.jpg * H a 5 6 & 7 + 00 8 f10 SaveWhich of the following statements are normative and which are positive? 1. When the inflation rate rises, the unemployment rate falls. 2. We ought to drive our cars less and take public transportation more. 3. Goldfish are the best pets for children. 4. Sweatshop labour in third-world countries does not help those economies grow. O A. statements 1 and 4 are positive, statements 2 and 3 are normative O B. statements 1 and 2 are positive, statements 3 and 4 are normative OC. statements 3 and 4 are positive, statements 1 and 2 are normative D. statements 2 and 3 are positive, statements 1 and 4 are normative
- Which of the following is NOT a benefit from trade? O a. the ability to specialize O b. an increase in the variety of goods and services available O c. reduced competition O d. lower pricesWhat is the connection, if any, between comparative advantage (CA) and foreign direct investment (FDI)? O Countries often engage in FDI in industries where the country they invest in has a comparative advantage. O When a country's firms invest abroad, this helps to create CA in the same industry in the country where they undertake the investment. O When a country's firms invest abroad, this helps to create CA in the same industry at home. O CA has nothing to do with FDI.In theory of comparative advantage, which statement is correct O a a country should produce all product in which it is efficient O b. a country should produce all goods to cater its domestic demand Oo a country should only produce those goods in which it is more efficient than other goods Kd a country should produce all products it can export
