eco2023
1.
2.
(1) technically inefficient technically efficient unattainable
The figure to the right illustrates the trade-offs facing Ford Motor Company. The line in the graph is Ford's production possibilities frontier.
If Ford uses all its resources to produce trucks, how many can it produce? thousand trucks per day. (Enter a numeric response using a real number rounded to one decimal place.)
Suppose Ford is currently building thousand cars per day. To build an additional 1 thousand cars, how many fewer trucks can be built? thousand fewer trucks per day.
3
According to the graph, building 3 thousand cars per day
and thousand trucks per day is (1) .4
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 0
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Quantity of cars (1,000s per day)
Q ua
nt ity
o f t
ru ck
s (1
,0 00
s pe
r d ay
)
What happens if a country produces a combination of goods that efficiently uses all of the resources available in the economy?
A. The country is maximizing its opportunity cost.
B. The country is operating on its production possibilities frontier.
C. The country has eliminated scarcity. D. All of the above occur if a country uses
all available resources.
Refer to the graph to the right. What is the opportunity cost of moving from point B to point C?
A. 40 sedans B. 20 SUVs C. 20 sedans D. 40 SUVs
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Quantity of SUVs produced per day
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nt ity
o f s
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od uc
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E10
30 F
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PPF
A
3. Which two arrows in the diagram depict the following transaction: Carter earns a $400 commission for selling men's designer shoes at Brooks Brothers.
A. J and M B. K and G C. J and G D. K and M