APMacro Unit 1.1-1.4 open response questions

APMacro Unit 1.1-1.4 open response questions

12th Grade

19 Qs

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APMacro Unit 1.1-1.4 open response questions

APMacro Unit 1.1-1.4 open response questions

Assessment

Quiz

Others

12th Grade

Practice Problem

Hard

Created by

BONNIE LINDLEY

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19 questions

Show all answers

1.

OPEN ENDED QUESTION

3 mins • 1 pt

The table shows that if the farmer grows just corn, 100,000 kg can be harvested, but there will be no resources left to grow soybeans. Explain the opportunity cost in this scenario.

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

If nothing but soybeans are grown, 100,000 kg can be harvested but no corn. Discuss the implications of this choice.

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

Every 20,000 kg increase in soybean production results in a fall in corn output of 20,000 kg. Analyze this trade-off.

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4.

OPEN ENDED QUESTION

3 mins • 1 pt

In other words, the opportunity cost of one kg of soybeans is one kg of corn. Explain this concept using the data provided.

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5.

OPEN ENDED QUESTION

3 mins • 1 pt

Assume Westoverland is currently allocating all of its resources toward tire production (point A). As the country moves from point A to point B, it produces its first 1 million driveshafts and gives up 5 million tires. Explain the opportunity cost involved in this movement.

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6.

OPEN ENDED QUESTION

3 mins • 1 pt

However, the next 1 million driveshafts (from point B to C) "cost" Westoverland 10 million tires. Discuss how the opportunity cost changes as production shifts from B to C.

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7.

OPEN ENDED QUESTION

3 mins • 1 pt

As driveshaft production continues to increase, the opportunity cost of additional driveshafts increases. Analyze why this might be the case.

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