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King: Economics

Chapter 02

Instructions

Answer the following questions and then press 'Submit' to get your score.

Question 1

Which of the following is not required for a country to be producing at a point on its production possibility frontier?

Question 2

Which of the following statements is true?

Question 3

Which of the following will not shift a country's production possibility frontier?

Question 4

Which of the following types of economy describes the economy of the UK?

Question 5

All the following government policies are likely to increase the quantity of some products that are produced. But with one policy, this effect is a side-effect rather than the aim. Which policy is that?

Question 6

Which of the following policies would increase production by taking it to a point closer to the production possibility frontier, but would not shift the frontier?

Question 7

Suppose a country is currently producing at a point on its production possibility frontier, and undertakes no trade with other countries. Then trade is opened up. Which of the following would not occur as a direct result?

Question 8

Which of the following policies is not classed as a stabilization policy?

Question 9

Which of the following statements is a positive statement?

Question 10

Suppose you buy Economics by David King. What is the opportunity cost of your purchase?