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 processs in 2007. A) $14 million B) $14 billion C) $ cxl trillion D) $140 billion E) $1,400 trillion final result: A Topic: Production possibilities exertion: Level 1: Definition department: Checkpoint 3.1 emplacement: SB AACSB: contemplative thinking 2) Which of the following is an assumption utilise when draftsmanship a production possibilities line? i.Human wants and desires ar limited to what is available. ii.Only two swells 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 ingredient: Checkpoint 3.1 attitude: TS AACSB: Reflective thinking 3 ) In the production possibilities model, the high axis measures ________ and the horizontal axis measures ________.

A) the mensuration of a dandy 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 combinations of g oods and operate that can be produced. B) ! resources the economy possess, but not its level of technology. C) goods and services that state 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 ample essay, order it on our website: OrderEssay.net

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