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Unit 1 quiz APMacro

Authored by Dalynn Robinson

Social Studies

12th Grade

Used 13+ times

Unit 1 quiz APMacro
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When making a decision, the next best alternative is called

The production possibilities

The opportunity cost

Scarcity

The absolute advantage

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following must be true if an individual’s next best alternative to going to the beach is studying for an economics exam?

They will decide to study for the exam

The opportunity cost of going to the beach is all the other things they could have done

The opportunity cost of going to the beach is being better prepared for the exam

The person prefers playing volleyball at the beach to study for the exam

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the production possibilities curve is concave from the origin (or bowed out), then economists say that

resources are scarce in the economy

Resources are not equally suited for the production of both goods

Economic growth is occurring in the economy

Resources are being inefficiently used in the economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An efficient use of resources

Future output once producers become more efficient

An inefficient use of resources

A combination that cannot be achieved due to scarcity

Full employment of resources in the economy

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An increase in which of the following would cause an outward shift of the production possibilities curve for consumer goods and capital goods?

An increase in the demand for consumer goods

An increase in taxes on consumers

A decrease in unemployment

An increase in the resources to produce capital goods

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is true regarding the production possibilities curve (PPC)?

An increase in resources will shift the PPC inward

A decrease in unemployment will cause the PPC to move outward

The production of capital goods will lead to more economic growth in the future

The government prefers consumer goods

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An increase in which of the following will increase the quantity supplied of volleyballs?

Taxes on volleyball producers

The price of a substitute

The number of volleyball consumers

The price of volleyballs

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