Foundations of economics 6th by parkin ch03 clicker questions

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The Economic Problem 3

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Question 1

Question 2

Question 3

Question 4

Question 5

Question 7

Question 8 Question 6 Question 9Question 9

Question 10

Checkpoint 3.1

Checkpoint 3.2

Checkpoint 3.3 Checkpoint 3.4

CHECKPOINT 3.1

A unattainable and have fully employed resources

B attainable and have fully employed resources

C unattainable and have some unemployed resources

D attainable and have some unemployed resources

E unaffordable and productive resources are misallocated

Question 1

Points inside the PPF are all _.

CHECKPOINT 3.1

A the existence of a tradeoff between goods produced

B unemployment of productive resources

C the existence of free lunches

D how the efficiency of production changes with tradeoffs

E how tradeoffs do not occur if the production is efficient

Question 2

Moving along the production possibilities frontier itself

illustrates _

CHECKPOINT 3.2

A 4 laptop computers

B 8 desktop computers

C 1 desktop computer

D 2 laptop computers

E 1/2 of a laptop computer

Question 3

Moving along its PPF, a country produces 8 additional

desktop computers, and its production of laptop computers decreases by 4 The opportunity cost of 1 desktop computer

is _

CHECKPOINT 3.2

A can increases

B can decreases

C can is constant, but the opportunity cost of an additional

bottle increases

D bottle increases

E can or an additional bottle increases

Question 4

A country produces only cans and bottles If the country

produces on its PPF and increases its production of cans,

the opportunity cost of an additional

CHECKPOINT 3.3

A its economic growth will slow down

B its production possibilities will expand

C its production possibilities will shrink

D some factors of production will become unemployed

E it must producing at the efficient point on its PPF

Question 5

If a nation devotes a larger share of its current production to consumption goods, then

CHECKPOINT 3.3

A increased; increased

B increased; decreased

C no loss of; increased

D decreased; increased

E decreased; decreased

Question 6

The opportunity cost of economic growth is current consumption, and the benefit of economic growth is future consumption

CHECKPOINT 3.3

A 1/2 of a pizza

B 1 pizza

C 2 pizzas

D 20 pizzas

E 2 tacos

Question 7

In one hour, Scott can produce 20 pizzas or 40 tacos In one hour, Cindy can produce 30 pizzas or 40 tacos Scott’s

opportunity cost of producing 1 taco is

CHECKPOINT 3.4

A Cindy has a comparative advantage in producing tacos

B Scott has a comparative advantage in producing tacos

C Both Cindy and Scott have a comparative advantage in

producing tacos

D Neither has a comparative advantage in producing tacos

E Scott has a comparative advantage in producing pizzas

Question 8

In one hour, Scott can produce 20 pizzas or 40 tacos In one hour, Cindy can produce 30 pizzas or 40 tacos

CHECKPOINT 3.4

A only loaves; only cakes

B only cakes; only loaves

C both loaves and cakes; only loaves

D only cakes; both loaves and cakes

Question 9

In one hour John can produce 20 loaves of bread or 8 cakes and Phyllis can produce 30 loaves of bread or 15 cakes

John and Phyllis will reap the largest gains from

specialization and trade if John produces _ and Phyllis produces

CHECKPOINT 3.4

A 6 shirts and 6 blouses

B 4 shirts and 6 blouses

C 6 shirts and 2 blouses

D 4 shirts and 4 blouses

Question 10

If Sue and Mark reap the maximum gains from trade, together they produce