California State University, Sacramento ECON 1A Quiz 2 Question1)On a two­dimensional graph,               allows for the effects of additional variables

California State University, Sacramento

ECON 1A

Quiz 2

Question1)On a two­dimensional graph,               allows for the effects of additional variables.

Question 2

The slope of the production possibilities curve is determined by the

                                                                                of expanding production of one good, measured by how much of the other good would be lost.

Question 3

Which of the following describes absolute advantage?

Question 4

Alpha can produce either 18 oranges or 9 apples in an hour, while Beta can produce either 16 oranges or 4 apples an hour.

Question 5

Alpha can produce either 18 oranges or 9 apples in an hour, while Beta can produce either 16 oranges or 4 apples an hour. The opportunity costs of producing one orange for Alpha and Beta, respectively, are:

Question 6

Alpha can produce either 18 oranges or 9 apples in an hour, while Beta can produce either 16 oranges or 4 apples an hour. Which of the following terms of trade between apples and or­ anges would allow both Alpha and Beta to gain from specialization and trade.

Question 7

According to international trade theory, a country should:

Question 8

In the figure below, which of the following production possibilities curves demonstrate economic growth?

Question 9

In the figure below, which of the production possibilities curves represent a reallocation of re­ sources (factors of production)?

Question 10

In Panel I in the figure below, as the economy moves from Point A to Point B:

Question 11

Consider the figure below. A movement from X to Y:

Question 12

Consider the figure below. Points W and X are: