Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![VII.
VIII.
IX
Which points shown in Figure 2 indicates an inefficient use of resources after an economy has
grown?
Figure 2: growth
Graded Assignment
Which of the points shown in Figure 1 are feasible?
Figure 1:a production-
possibility boundary
Which of the points shown in Figure 1 are efficient?
(IV)
Figure 1: a production-
possibility boundary
Page 1 of 5
B. Can these activities be considered part of GDP? (Imarks each)
Mrs. Brown daily picks flowers in her garden.
John sells fruits in the market in town.
Two (2) were hurt in car accident and were treated in their local hospital.
A garage buys spare tyres to sell them to customers next year
As it pertains to St. Lucia, if a Jamaican citizen works temporarily in St. Lucia.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3414101d-0239-4624-967e-fd6b8e8b023e%2Fd2444945-43b2-4b92-9c6a-c120df2227aa%2Fo3shpli_processed.png&w=3840&q=75)
Transcribed Image Text:VII.
VIII.
IX
Which points shown in Figure 2 indicates an inefficient use of resources after an economy has
grown?
Figure 2: growth
Graded Assignment
Which of the points shown in Figure 1 are feasible?
Figure 1:a production-
possibility boundary
Which of the points shown in Figure 1 are efficient?
(IV)
Figure 1: a production-
possibility boundary
Page 1 of 5
B. Can these activities be considered part of GDP? (Imarks each)
Mrs. Brown daily picks flowers in her garden.
John sells fruits in the market in town.
Two (2) were hurt in car accident and were treated in their local hospital.
A garage buys spare tyres to sell them to customers next year
As it pertains to St. Lucia, if a Jamaican citizen works temporarily in St. Lucia.
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