Which of the following is not correct? a typical production possibilities curve

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The scarcity problem: A) can be eliminated if all countries adopt laissez-faire capitalism B) will persist so long as productive resources are limited C) persists only in the developing countries D) will be eliminated if full employment is achieved 2
The role of theorizing is to: A) substitute for "policy economics" B) arrange and interpret facts C) lend practical support to the "economic perspective" D) refute marginal analysis 3
You should decide to study an extra hour tonight A) if the marginal cost of studying an extra hour exceeds its marginal benefit B) if the marginal benefit of studying an extra hour exceeds its marginal cost C) if you got a lower than expected grade on your last exam D) because studying harder will improve your test scores 4
When constructing a typical production possibilities curve, economists assume: A) economic resources are underutilized B) resources are equally productive in many alternative uses C) all available resources are fully employed D) production technology is allowed to vary 5
Microeconomics: A) is particularly subject to the "fallacy of composition" B) is concerned with the economy as a whole C) studies how supply and demand determine prices in individual markets D) describes the aggregate flows of output and income 6
Answer the next question on the basis of the data given in the following production possibilities table:
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Refer to the above table. These data indicate that increasing production of capital goods requires: A) increasing sacrifices of consumer goods B) decreasing sacrifices of consumer goods C) constant sacrifices of consumer goods D) no sacrifices of consumer goods 7
Refer to the following diagram:
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The slope of curve ZZ at point C is: A) positive B) negative C) zero D) undefined 8
Consider the choice Marsha faces of how to allocate her weekly allowance between books and CDs. An increase in Marsha's income will: A) shift her budget line to the right B) shift her budget line to the left C) rotate her budget line, allowing her to buy more books but not more CDs D) rotate her budget line, allowing her to buy more CDs but not more books 9
The negative slope of the production possibilities curve illustrates that: A) some resources are always unemployed B) an economy can produce more of one thing only by producing less of something else C) opportunity costs are constant D) business can sell more when prices are low 10
Which of the following would lead to an inward shift of a nation's production possibilities curve? A) Immigration of skilled workers into the nation B) An increase in the average skill level of the population C) a decrease in the size of the working-age population D) Increased production of capital goods

What is the typical production possibilities curve?

Which of the following is not true about production possibilities frontier quizlet?

Which of the following does not result in a shift of the production possibilities curve?

Which of the following is assumed in constructing a typical production possibilities curve?