Learning Outcome: Micro-20 14) Refer to Table 2.1. For Mark, the opportunity cost of writing six TV commercials is ________ poems made. A) 2 B) 18 C) 24 D) an indeterminate number of Answer: B Diff: 2 Topic: Scarcity, Choice, and Opportunity Cost Skill: Analytical AACSB: Analytic Skills Learning Outcome: Micro-20 15) Refer to Table 2.1. For Krystal, the opportunity cost of writing four TV commercials is ________ poems. A) 2 B) 8 C) 16 D) 32 Answer: C Diff: 2 Topic: Scarcity, Choice, and Opportunity Cost Skill: Analytical AACSB: Analytic Skills Learning Outcome: 16) According to the theory of comparative advantage, ________ raise(s) productivity by lowering opportunity costs. A) trade and specialization B) investment in capital goods C) economic growth D) exchange and consumption Answer: A Diff: 2 Scarcity, Choice, and Opportunity Cost Skill: Conceptual Reflective Thinking Learning Outcome: Micro-3 17) When two people A) both of them expect to be made worse off by the exchange.
Learning Outcome: Micro-20 14) Refer to Table 2.1. For Mark, the opportunity cost of writing six TV commercials is ________ poems made. A) 2 B) 18 C) 24 D) an indeterminate number of Answer: B Diff: 2 Topic: Scarcity, Choice, and Opportunity Cost Skill: Analytical AACSB: Analytic Skills Learning Outcome: Micro-20 15) Refer to Table 2.1. For Krystal, the opportunity cost of writing four TV commercials is ________ poems. A) 2 B) 8 C) 16 D) 32 Answer: C Diff: 2 Topic: Scarcity, Choice, and Opportunity Cost Skill: Analytical AACSB: Analytic Skills Learning Outcome: 16) According to the theory of comparative advantage, ________ raise(s) productivity by lowering opportunity costs. A) trade and specialization B) investment in capital goods C) economic growth D) exchange and consumption Answer: A Diff: 2 Scarcity, Choice, and Opportunity Cost Skill: Conceptual Reflective Thinking Learning Outcome: Micro-3 17) When two people A) both of them expect to be made worse off by the exchange.
ch2_-the-economic-problem-scarcity-and-choice.docx