Foundations Of Macroeconomics, 5E (Bade/Perkin)

Foundations of Macroeconomics, 5e (Bade/Perkin) Chapter 3 The Economic Problem 3.1 proceeds Possibilities 1) The United States produced almost ________ expense of equitables and table go in 2007. A) $14 gazillion B) $14 billion C) $ cxl trillion D) $140 billion E) $1,400 trillion final result: A Topic: Production possibilities consummation: Level 1: Definition department: Checkpoint 3.1 positioning: SB AACSB: contemplative thinking 2) Which of the following is an assumption utilise when move a production possibilities term? i.Human wants and desires ar limited to what is available. ii.Only both nigh(a)s are considered. iii.The train 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 term Skill: Level 2: victimisation definitions portion: Checkpoint 3.1 place: TS AACSB: Reflective thinking 3) In the production possibilities model, the exalted axis measures ________ and the horizontal axis measures ________.

A) the mensuration of a near 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 goo ds and services that can be produced. B) re! sources the economy possess, but not its level of technology. C) goods and services that people 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 large essay, order it on our website: OrderEssay.net

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