哈伯德微观经济学Charpter.docVIP

When economists affirm that scarcity exists, which of the following do they consider to be scarce? Goods and services but not factors of production Only natural resources Money Both goods and services and factors of production What is the name given to the highest-valued alternative that must be given up to engage in any activity? Opportunity cost A tradeoff Scarcity The production possibilities frontier When a firm decides to move from one point on its production possibilities frontier to another point, which of the following must change? Opportunity cost Technology The amount of resources available Plant size Refer to the graph below. Which of the following combinations is inefficient? Combination F Both F and G Combinations A or E Combination G Refer to the graph below. How many roadsters are produced at the point where BMW produces 800 SUVs? Exactly 800 400 Zero Any amount up to 800 Refer to the graph below. The graph shows the data from Solved Problem 2-1. What is the opportunity cost of switching from Choice D to Choice E? Two cakes Eight pies One cake Two pies As explained in Making the Connection: Trade-offs: Hurricane Katrina, Tsunami Relief, and Charitable Giving, the opportunity cost of the charitable giving destined to help the victims of Hurricane Katrina equals: The exact amount of money that went to help those victims The amount of money that was not spent by government for the same cause The amount of money that could have gone to help other causes The hidden costs of the Hurricane, or the costs that were ignored Refer to the graph below. As you move from point A to point B and then to C on this graph, what happens to the marginal opportunity cost? It remains constant It decreases It increases It equals zero Refer to the graph below. Precisely what does the term “increasing marginal opportunity cost” signifies in this graph?(如上图) It means that increasing the production of either aircrafts or automobiles creates more opportunities in the eco