SSEIN1a/American Indian Heritage Month Trivia

The PPC shows how many airplanes and pizzas Country A and Country B can produce with a certain number of workers. Which Country should produce Pizzas?

• Country A

• Country B

• Both Country A and Country B

• Neither Country A nor Country B

• We cannot determine this

Amanda can either build 6 models or prepare 4 experiments, and Pam can either build 9 models or prepare 6 experiments. Amanda and Pan have identical time and resources available.

Who has a comparative advantage in building models and who has a comparative advantage in preparing experiments?

• Both have a comparative advantage in both goods

• Pam has a comparative advantage in both building models and preparing experiments

• Neither has a comparative advantage in producing either good

• Amanda has a comparative advantage in building models and Pam has a comparative advantage in preparing experiments

• Pam has a comparative advantage in building models; both have a comparative advantage in preparing experiments

Martha and Dave like to make identical tacos and cakes. The time it makes Martha and Dave to make tacos and cakes is given in the table provided. Which person has an absolute advantage in the production of tacos, and which person has an absolute advantage in the production of cakes?

• Martha has an absolute advantage in tacos; Dave has an absolute advantage in cakes

• Neither Dave nor Martha has an absolute advantage at producing either good

• Dave has an absolute advantage in producing both goods

• Both Martha and Dave have an absolute advantage in producing both goods

• Martha has an absolute advantage in producing both goods

The diagram shows the production possibilities curve for Country Y. Which of the following statements is true?

• If Country Y is producing at point C, it is using all its resources efficiently
• The opportunity cost of producing more machines is constant
• Country Y cannot produce at point E
• The most efficient point of production is point D

Based on the table provided, which one of the following statements is correct?

• Japan has the absolute advantage in producing cars
• Japan has the comparative advantage in producing cars
• The United States has the absolute advantage in producing both cars and computers
• The opportunity cost of producing a car in Japan is 1/2 a computer

The producer that can produce the most output OR requires the least amount of inputs (resources)

• Comparative Advantage

• Trade Offs

• Absolute Advantage

• Opportunity Cost

The producer with the lowest opportunity cost.

• Comparative Advantage

• Trade Off

• Absolute Advantage

• Opportunity Cost

Joy gives 2 haircuts and 1 perm. Susie gives 3 haircuts and 2 perms. Who has the absolute advantage for haircuts?

• Joy

• Susie

What should Peru export?

• cars

• tools

• love

• rainbows

What is the opportunity cost of producing a tool in the U.S.?

• .5 cars

• .75 tools

• 2 cars

• 1.3 cars