Ch. 3 Graded Quiz: PPFs, Opportunity Cost, and Trade Concepts

1/21/24, 4:57 PM Quiz: Ch. 3 graded quiz https://bruinlearn.ucla.edu/courses/177133/quizzes/998533/take 1/4 Ch. 3 graded quiz Started: Jan 21 at 12:23am Quiz Instructions 1 pts Question 1 Consider the PPF diagram below. Given the PPF illustrated, what is the opportunity cost of moving from B to A? 5 oranges. 10 apples. 5/10 apples. 10/5 oranges.

1/21/24, 4:57 PM Quiz: Ch. 3 graded quiz https://bruinlearn.ucla.edu/courses/177133/quizzes/998533/take 2/4 1 pts Question 2 The following table shows the outputs per worker in producing coconuts and fish shown in Country A and Country B. Then Country B has a coconuts fish Country A 300 200 Country B 20 10 Comparative advantage in fish. Absolute advantage in fish. Comparative advantage in coconuts. Absolute advantage in coconuts. 1 pts Question 3 Consider the PPF diagram drawn below, for two countries that are free to trade with one another.

1/21/24, 4:57 PM Quiz: Ch. 3 graded quiz https://bruinlearn.ucla.edu/courses/177133/quizzes/998533/take 3/4 Which of the following production combinations is/are INEFFICIENT? 1. Country 1 produces at point C and country 2 produces at point D. 2. Country 1 produces at point E and country 2 produces point at B. 3. Country 1 produces at point E and country 2 produces at point A. 1 only 1, 2 and 3 1 and 2 only 2 only 1 pts Question 4 The diagram below illustrates the PPFs for two countries that produce wine and cheese. With no trade, country 1 produces at point A on its PPF and country 2 produces at point B. Assume that the two countries now begin to trade with one another. Which of the following will NOT occur (relative to the case with no trade). Country 2 will produce more cheese. Country 1 will import cheese.

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1/21/24, 4:57 PM Quiz: Ch. 3 graded quiz https://bruinlearn.ucla.edu/courses/177133/quizzes/998533/take 4/4 No new data to save. Last checked at 4:57pm Country 1 will produce less cheese. Country 2 will export wine. Submit Quiz

Quiz_ Ch. 3 graded quiz

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