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小 發表於 2011-9-11 05:36 AM (第 4628 天)
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homework problems...
2. Something is wrong with each of the statements below. Identify what the error is.
If Smith can produce either (a) 100 units of good X and 50 units of good Y, or
(b) 25 units of good X and 80 units of good Y, then the cost of 1 unit of good X
is 1.5 units of good Y.
If Jones can produce either (a) 100 units of X and 100 units of Y, or (b) 200
units of X and zero units of Y, then he has a comparative advantage in the
production of Y. Warning: this is a “trick” question — think carefully before
answering
Also with a few mc problems
I cant understand the above questions... what is the error?
1. The production possibilities frontier
illustrates
A. the combinations of output that an
economy should produce.
B. the combinations of output that an
economy should consume.
C. the combinations of output that an
economy can produce.
D. All of the above are correct
Ans: C?
2. A production possibilities frontier is bowed
outward when
A. the more resources the economy uses to
produce one good, the fewer resources it
has available to produce the other good.
B. an economy is self-sufficient instead of
interdependent and engaged in trade.
C. the rate of tradeoff between the two goods
being produced is constant.
D. the rate of tradeoff between the two goods
being produced depends on how much of
each good is being produced
Ans: A/C? i am confused in this question..
3.
3. When each person specializes in producing
the good in which he or she has a comparative
advantage, total production in the economy
A. falls.
B. stays the same.
C. rises.
D. may fall, rise, or stay the same
Ans: C? confused also..
Last one
Quantity Produced in 1 Hour
(a) Bushels of Wheat
(b) Yards of Cloth
Falda (a) 8 (b)12
Varick (a) 6 (b)15
Assume that Falda and Varick can switch between
producing wheat and producing cloth at a constant
rate.
9. Refer to the table above. Assume that Falda
and Varick each has 1 hour available. If each
person divides their time equally between the
production of wheat and cloth, then total
production is
A. 4 bushels of wheat and 7.5 yards of cloth.
B. 7 bushels of wheat and 13.5 yards of cloth.
C. 8 bushels of wheat and 15 yards of cloth.
D. 14 bushels of wheat and 27 yards of cloth.
Ans: B?
I am very confused in this questions..Thank you for your help
[ 本帖最後由 ckc4043 於 2011-9-11 03:35 PM 編輯 ]
