PRINT LAST NAME, FIRST NAME PRODUCTION POSSIBILITIES Use the graph below to answer questions 1 through 5. Housing в° Food Which point corresponds to a combination of food and housing that is currently 1. unattainable? d. b. B C. a. Which point illustrates inefficiency or unemployment? (b. D d. c. a. Which points illustrate efficiency and full employment? B and C 3. B and D d. A and C b. C. A and B a. Shifting resources from food production to housing production could cause the economy to move from point A; C 4. to point ъ. C; D d. B; C C; A C. a. as resources are shifted from If the PPF is a straight line, opportunity cost 5. producing housing to food production; when the PPF is bowed outward, opportunity cost as resources are shifted from producing housing to food production. remains constant; remains constant increases; increases remains constant; increases increases; remains constant a. b. C. d. In the production possibilities model, economic growth is illustrated by: an inward shift of the production possibilities frontier. an outward shift of the production possibilities frontier. 6. 0. a. b. the straight-line shape of the production possibilities frontier. d. the bowed-outward shape of the production possibilities frontier. C. 2.
PRINT LAST NAME, FIRST NAME PRODUCTION POSSIBILITIES Use the graph below to answer questions 1 through 5. Housing в° Food Which point corresponds to a combination of food and housing that is currently 1. unattainable? d. b. B C. a. Which point illustrates inefficiency or unemployment? (b. D d. c. a. Which points illustrate efficiency and full employment? B and C 3. B and D d. A and C b. C. A and B a. Shifting resources from food production to housing production could cause the economy to move from point A; C 4. to point ъ. C; D d. B; C C; A C. a. as resources are shifted from If the PPF is a straight line, opportunity cost 5. producing housing to food production; when the PPF is bowed outward, opportunity cost as resources are shifted from producing housing to food production. remains constant; remains constant increases; increases remains constant; increases increases; remains constant a. b. C. d. In the production possibilities model, economic growth is illustrated by: an inward shift of the production possibilities frontier. an outward shift of the production possibilities frontier. 6. 0. a. b. the straight-line shape of the production possibilities frontier. d. the bowed-outward shape of the production possibilities frontier. C. 2.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question 5
Transcribed Image Text:PRINT LAST NAME, FIRST NAME
PRODUCTION POSSIBILITIES
Use the graph below to answer questions 1 through 5.
Housing
в°
Food
Which point corresponds to a combination of food and housing that is currently
1.
unattainable?
d.
b.
B
C.
a.
Which point illustrates inefficiency or unemployment?
(b.
D
d.
c.
a.
Which points illustrate efficiency and full employment?
B and C
3.
B and D
d.
A and C
b.
C.
A and B
a.
Shifting resources from food production to housing production could cause the economy
to move from point
A; C
4.
to point
ъ.
C; D
d.
B; C
C; A
C.
a.
as resources are shifted from
If the PPF is a straight line, opportunity cost
5.
producing housing to food production; when the PPF is bowed outward, opportunity cost
as resources are shifted from producing housing to food production.
remains constant; remains constant
increases; increases
remains constant; increases
increases; remains constant
a.
b.
C.
d.
In the production possibilities model, economic growth is illustrated by:
an inward shift of the production possibilities frontier.
an outward shift of the production possibilities frontier.
6.
0.
a.
b.
the straight-line shape of the production possibilities frontier.
d.
the bowed-outward shape of the production possibilities frontier.
C.
2.
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