liva NAME PRINT LAST NAME, FIRST NAME PRODUCTION POSSIBILITIES Use the graph below to answer questions 1 through 5. Housing B° Food Which point corresponds to a combination of food and housing that is currently unattainable? 1. d. b. c. a. Which point illustrates inefficiency or unemployment? b. d. a. C. Which points illustrate efficiency and full employment? A and C 3. B and C A and B d. b. B and D C. a. Shifting resources from food production to housing production could cause the economy to move from point 4. to point b. C; A B; C A; C d. C; D C. a. If the PPF is a straight line, opportunity cost 5. as resources are shifted from producing housing to food production; when the PPF is bowed outward, opportunity co as resources are shifted from producing housing to food production. remains constant; remains constant increases; increases remains constant; increases increases; remains constant a. b. C. In the production possibilities model, economic growth is illustrated by: an inward shift of the production possibilities frontier. an outward shift of the production possibilities frontier. the straight-line shape of the production possibilities frontier. the bowed-outward shape of the production possibilities frontier. 6. a. (b. C. d. 2.
liva NAME PRINT LAST NAME, FIRST NAME PRODUCTION POSSIBILITIES Use the graph below to answer questions 1 through 5. Housing B° Food Which point corresponds to a combination of food and housing that is currently unattainable? 1. d. b. c. a. Which point illustrates inefficiency or unemployment? b. d. a. C. Which points illustrate efficiency and full employment? A and C 3. B and C A and B d. b. B and D C. a. Shifting resources from food production to housing production could cause the economy to move from point 4. to point b. C; A B; C A; C d. C; D C. a. If the PPF is a straight line, opportunity cost 5. as resources are shifted from producing housing to food production; when the PPF is bowed outward, opportunity co as resources are shifted from producing housing to food production. remains constant; remains constant increases; increases remains constant; increases increases; remains constant a. b. C. In the production possibilities model, economic growth is illustrated by: an inward shift of the production possibilities frontier. an outward shift of the production possibilities frontier. the straight-line shape of the production possibilities frontier. the bowed-outward shape of the production possibilities frontier. 6. a. (b. C. d. 2.
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter6: Measuring The Cost Of Living
Section: Chapter Questions
Problem 7PA
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Question 6
Transcribed Image Text:liva
NAME
PRINT LAST NAME, FIRST NAME
PRODUCTION POSSIBILITIES
Use the graph below to answer questions 1 through 5.
Housing
B°
Food
Which point corresponds to a combination of food and housing that is currently
unattainable?
1.
d.
b.
c.
a.
Which point illustrates inefficiency or unemployment?
b.
d.
a.
C.
Which points illustrate efficiency and full employment?
A and C
3.
B and C
A and B
d.
b.
B and D
C.
a.
Shifting resources from food production to housing production could cause the economy
to move from point
4.
to point
b.
C; A
B; C
A; C
d.
C; D
C.
a.
If the PPF is a straight line, opportunity cost
5.
as resources are shifted from
producing housing to food production; when the PPF is bowed outward, opportunity co
as resources are shifted from producing housing to food production.
remains constant; remains constant
increases; increases
remains constant; increases
increases; remains constant
a.
b.
C.
In the production possibilities model, economic growth is illustrated by:
an inward shift of the production possibilities frontier.
an outward shift of the production possibilities frontier.
the straight-line shape of the production possibilities frontier.
the bowed-outward shape of the production possibilities frontier.
6.
a.
(b.
C.
d.
2.
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