L
*lil' leasha lu*
Guest
I have a worksheet to do for a class. I did all the problems but a few of them i was having trouble with. I chose answers for them but i wanted advice on what others thought and if my answers are correct. Thanks!
1. efficiency is illustrated by
a) both production possibilities frontier and the circular-flow diagram
b) neither
c) the production possibilities frontier only
d) the circular flow diagram only
--I chose c
2. The production possibilites frontier provides an illustration of the principle that
a) trade can make everyone better off
b)govt's can sometimes improve market outcomes
c) people face trade offs
d) people respond to incentives
-i chose c
3. a microeconomist --as opposed to a macroeconomist--might study
a) the effect of borrowing by the fed govt on the inflation rate
b)the effect of rising oil prices on employment in the airline industry
c)changes in the nations unemployment rate over short periods of time
d) alternative policies to promote higher living standards throughout the nation
--i chose b
1. efficiency is illustrated by
a) both production possibilities frontier and the circular-flow diagram
b) neither
c) the production possibilities frontier only
d) the circular flow diagram only
--I chose c
2. The production possibilites frontier provides an illustration of the principle that
a) trade can make everyone better off
b)govt's can sometimes improve market outcomes
c) people face trade offs
d) people respond to incentives
-i chose c
3. a microeconomist --as opposed to a macroeconomist--might study
a) the effect of borrowing by the fed govt on the inflation rate
b)the effect of rising oil prices on employment in the airline industry
c)changes in the nations unemployment rate over short periods of time
d) alternative policies to promote higher living standards throughout the nation
--i chose b