Exhibit 2-1
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33. Refer to Exhibit 2-1. The PPF illustrates
a.
constant opportunity
costs between guns and butter.
b.
that guns are more
important than butter.
c.
increasing
opportunity costs between guns and butter.
d.
the opportunity
cost of one unit of guns is four units of butter.
e.
none of the above
34. Refer to Exhibit 2-1. The movement from point A to point B is a
movement from
a.
a productive
efficient point to a productive inefficient point.
b.
a point with more
guns and less butter to a point with more butter and even more guns.
c.
a productive
efficient point to another productive efficient point.
d.
a productive
inefficient point to a productive efficient point.
35. Refer to Exhibit 2-1. A movement from point B to point D
a.
could only happen
through economic growth.
b.
is necessarily a
movement from a productive efficient point to a productive inefficient point.
c.
is a movement from a productive efficient
point to another productive efficient point.
d.
is necessarily a
movement from a productive inefficient point to another productive inefficient
point.
36. Refer to Exhibit 2-1. If the economy is at point C, it follows
that
a.
more guns and more
butter could be produced with available resources than are currently being
produced.
b.
only more guns
could be produced with available resources than are currently being produced.
c.
only more butter
can be produced with available resources than are currently being produced.
d.
C is an
unattainable point.
37. Refer to Exhibit 2-1. The opportunity cost of moving from point B
to A is
a.
10,000 units of
butter.
b.
20,000 units of
butter.
c.
50,000 units of
guns.
d.
the maximum amount
of butter that can be produced with available resources.
38. Refer to Exhibit 2-1. Scarcity exists
a.
at point C but not
at point A.
b.
neither at point C
nor at point A.
c.
at both point C and
at point A.
d.
at point A but not
at point C.
39. Refer to Exhibit 2-1. The opportunity cost of moving from point A
to B is
a.
10,000 units of
butter.
b.
20,000 units of
butter.
c.
20,000 units of guns.
d.
10,000 units of
guns.
NOT: New
40. According to the text, farming today in the U.S. is __________
productive compared to a century ago, resulting in there being __________
farmers today than at the turn of the previous century.
a.
about as; fewer
b.
about as; more
c.
much more; fewer
d.
much more; more
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