EP ECONOMICS,AP EDITION-CONNECT ACCESS
20th Edition
ISBN: 9780021403455
Author: McConnell
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 38.2, Problem 1QQ
To determine
Production possibility frontier and opportunity cost .
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QUESTION 10
These are some points on the production possibilities frontier for France written in the form (Cheese, Perfume)
A. (24, 0); B. (15, 4.5); C. (0, 12)
What happens to the opportunity cost of one unit of perfume as France moves from point A to B and from B to C on the PPF?
A. The opportunity cost of perfume remains the same
OB. The opportunity cost of perfume increases
OC. The opportunity cost of perfume decreases
OD. The opportunity cost of perfume remains the same from A to B and increases from B to C
Q11
International trade permits a country to...
a.
Consume beyond its production possibilities boundary.
b.
Produce and consume beyond its production possibilities boundary.
c.
Shift its production possibilities boundary outward.
d.
Increase its absolute advantage for its imported goods.
e.
Expand its production possibilities while holding constant its consumption possibilities.
Moving from one point on the production possibilities frontier to another
Select one:
a. involves a tradeoff but does not incur an opportunity cost
b. involves an opportunity cost but no tradeoff
c. involves no tradeoff but it does incur an opportunity cost
d. involves a tradeoff and incurs an opportunity cost
Chapter 38 Solutions
EP ECONOMICS,AP EDITION-CONNECT ACCESS
Ch. 38.2 - Prob. 1QQCh. 38.2 - Prob. 2QQCh. 38.2 - Prob. 3QQCh. 38.2 - Prob. 4QQCh. 38 - Prob. 1DQCh. 38 - Prob. 2DQCh. 38 - Prob. 3DQCh. 38 - Prob. 4DQCh. 38 - Prob. 5DQCh. 38 - Prob. 6DQ
Ch. 38 - Prob. 7DQCh. 38 - Prob. 8DQCh. 38 - Prob. 9DQCh. 38 - Prob. 10DQCh. 38 - Prob. 11DQCh. 38 - Prob. 12DQCh. 38 - Prob. 13DQCh. 38 - Prob. 14DQCh. 38 - Prob. 1RQCh. 38 - Prob. 2RQCh. 38 - Prob. 3RQCh. 38 - Prob. 4RQCh. 38 - Prob. 5RQCh. 38 - Prob. 6RQCh. 38 - Prob. 7RQCh. 38 - Prob. 8RQCh. 38 - Prob. 9RQCh. 38 - Prob. 10RQCh. 38 - Prob. 11RQCh. 38 - Prob. 12RQCh. 38 - Prob. 13RQCh. 38 - Prob. 1PCh. 38 - Prob. 2PCh. 38 - Prob. 3PCh. 38 - Prob. 4P
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