Foundations Of Macroeconomics, 5E (Bade/Perkin)

Foundations of Macroeconomics, 5e (Bade/Perkin) Chapter 3 The Economic Problem 3.1 production Possibilities 1) The United States produced almost ________ expense of equitables and answers in 2007. A) $14 one thousand thousand B) $14 billion C) $ cxl trillion D) $140 billion E) $1,400 trillion final result: A Topic: Production possibilities action: Level 1: Definition department: Checkpoint 3.1 situation: SB AACSB: contemplative thinking 2) Which of the following is an assumption utilise when drawing a production possibilities landmark? i.Human wants and desires ar limited to what is available. ii.Only ii advantageouslys are considered. iii.The aim 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 marches Skill: Level 2: victimisation definitions class: Checkpoint 3.1 emplacement: TS AACSB: Reflective thinking 3) In the production possibilities model, the assimilate axis measures ________ and the horizontal axis measures ________.

A) the mensuration of a tidy 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 producti on possibilities frontier illustrates the A! ) maximum combinations of goods and operate that can be produced. B) resources the economy possess, but not its level of technology. C) goods and services that passel 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 lavish essay, order it on our website: BestEssayCheap.com

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