DOWNLOADmTHEmTestmBankmformPrinciples mofmMicroeconomics m6thmEditionmFrank mynursytest.store
Chapterm02mTestmBank
Student:m
- Anmindividualmhasmanmabsolutemadvantageminmproducingmpizzasmifmthatmindividual:
- hasmamlowermopportunitymcostmofmproducingmpizzasmthanmanyonemelse.
- canmproducemmorempizzasminmamgivenmamountmofmtimemthanmanyonemelse.
- hasmamhighermopportunitymcostmofmproducingmpizzasmthanmanyonemelse.
- chargesmthemlowestmpricemformpizzas.
2. IfmAlmhasmanmabsolutemadvantagemovermBethminmpreparingmmeals,mthen:
- itmtakesmAlmmoremtimemtompreparemammealmthanmBeth.
- themproblemmofmscarcitymappliesmtomBethmbutmnotmtomAl.
- Al'smopportunitymcostmofmpreparingmammealmismlowermthanmismBeth's.
- AlmcanmpreparemmoremmealsminmamgivenmtimemperiodmthanmBeth.
- IfmLesmcanmproducemtwompairsmofmpantsmpermhourmwhilemEvamcanmproducemonempairmpermhour,mthenmitmmustmbemtruemthat:
- Lesmhasmamcomparativemadvantageminmproducingmpants.
- Lesmhasmanmabsolutemadvantageminmproducingmpants.
- Evamhasmamcomparativemadvantageminmproducingmpants.
- Lesmhasmbothmcomparativemandmabsolutemadvantageminmproducingmpants.
- Ifmamnationmcanmproducemammoremcomputersmpermyearmthanmanymothermnation,mthatmnationmhasma(n)m advantageminmthemproductionmofmcomputers.
- comparative
- absolute
- relative
- natural
5. Ifmyoumhavemamcomparativemadvantageminmamparticularmtask,mthen:
- youmarembettermatmitmthanmothermpeople.
- youmgivemupmmoremtomaccomplishmthatmtaskmthanmdomothers.
- youmgivemupmlessmtomaccomplishmthatmtaskmthanmdomothers.
- youmhavemspecializedminmthatmtask,mwhilemothersmhavemnot. 1 / 4
DOWNLOADmTHEmTestmBankmformPrinciples mofmMicroeconomics m6thmEditionmFrank mynursytest.store
- Larrymhasmamcomparativemadvantagemovermhismclassmatesminmwritingmtermmpapersmifmhe:
- canmwritemtermmpapersmfastermthanmhismclassmates.
- hasmanmabsolutemadvantageminmwritingmtermmpapers.
- alwaysmearnsmanmAmonmhismtermmpapers.
- hasmamlowermopportunitymcostmofmwritingmtermmpapersmthanmhismclassmates.
- Ifmamnationmhasmthemlowestmopportunitymcostmofmproducingmamgood,mthatmnationmhasma(n)m inmthemproductionmofmthatmgood.
- comparativemadvantage
- absolutemadvantage
- comparativemadvantagemandmanmabsolutemadvantage
- absolutemadvantagemandmpossiblymamcomparativemadvantage.
- Whichmofmthemfollowingmstatementsmismtrue?
- Absolutemadvantagemimpliesmcomparativemadvantage.
- Comparativemadvantagemdoesmnotmrequiremabsolutemadvantage.
- Absolutemadvantagemrequiresmcomparativemadvantage.
- Comparativemadvantagemrequiresmabsolutemadvantage.
- IfmJanemcanmproducem3mpairsmofmshoesmpermhour,mwhilemBobmcanmproducem2,mthenm hasma(n)m advantageminmproducingmshoes.
- Jane;mabsolute
- Jane;mcomparative
- Bob;mabsolu te
- Bob;mcom pa ra tive
- Refermtomthemtablembelow.mAccordingmtomthemtable,mMarthamhasmthemabsolutemadvantagemin:
- pies.
- neithermpiesmnormcakes.
- cakes.
- bothmpiesmandmcakes. 2 / 4
DOWNLOADmTHEmTestmBankmformPrinciples mofmMicroeconomics m6thmEditionmFrank mynursytest.store
- Refermtomthemtablembelow.mAccordingmtomthemtable,mJuliamhasmthemabsolutemadvantagemin:
- pies.
- neithermpiesmnormcakes.
- cakes.
- bothmpiesmandmcakes.
12. Refermtomthemtablembelow.mMartha'smopportunitymcostmofmmakingmofmampiemis:
- 3/4mofmamcake.
- 4/3mofmamcake.
- 8mcakes.
- 80mcakes. 3 / 4
DOWNLOADmTHEmTestmBankmformPrinciples mofmMicroeconomics m6thmEditionmFrank mynursytest.store
13. Refermtomthemtablembelow.mMartha'smopportunitymcostmofmmakingmamcakemis:
- 3/4mofmampie.
- 4/3mofmampie.
- 6mpies.
- 60mpies.
14. Refermtomthemtablembelow.mJulia'smopportunitymcostmofmmakingmampiemis:
- 60mcakes
- 6mcakes
- 6/5mofmamcake
- 5/6mofmamcake
- / 4