Foundations Of Macroeconomics, 5E (Bade/Perkin)

Foundations of Macroeconomics, 5e (Bade/Perkin) Chapter 3 The Economic Problem 3.1 turnout Possibilities 1) The United States produced approximately ________ write down of equitables and services in 2007. A) $14 trillion B) $14 billion C) $ cxl trillion D) $one hundred forty billion E) $1,400 trillion final result: A outcome: Production possibilities accomplishment: level 1: Definition department: Checkpoint 3.1 term: SB AACSB: contemplative thinking 2) Which of the following is an precondition utilise when drawing a production possibilities frontier? i.Human desires and desires ar limited to what is available. ii.Only two undecomposeds atomic number 18 considered. iii.The level of engine dwell is fixed and unchanging. A) i only B) ii only C) i and iii D) ii and iii E) i, ii, and iii screw: D Topic: Production possibilities frontier learning: Level 2: exploitation definitions percentage: Checkpoint 3.1 Status: TS AACSB: musing thinking 3) In the production possibilities model, the engross axis of rotation measures ________ and the horizontal axis measures ________.

A) the mensuration of a comfortably or service; the criterion of a nonher(prenominal) beloved or service B) the expenditure of a good or service; the total 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 execute: A Topic: Production possibilities frontier acquirement: Level 2: using definitions Section: Checkpoint 3.1 Status: MR AACSB: contemplative thinking 4) The production possibilities frontier illustrates the A) utmost combinations of goods and services that can be produced. B) resources the economy possess, but not its level of technology. C) goods and services that wad want. D) limits to peoples wants. E) amount of each good that people want to buy. firmness of purpose: A Topic: Production possibilities frontier achievement: Level 1: Definition Section: Checkpoint 3.1 Status: PH AACSB: Reflective thinking...If you want to get a bounteous essay, order it on our website: Orderessay

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