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Economics quiz 2

17/03/2021 Client: saad24vbs Deadline: 7 Days

Question 12 pts

When making a choice to do more of one activity, the highest-valued other choice society does not make is called _______ , and it is measured _______ .

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opportunity cost; by the slope of the production possibilities curve at that level

[removed]

opportunity cost; in terms of the money it costs

[removed]

constant cost; by the slope of the production possibilities curve at that level

[removed]

increasing cost; in terms of the amount of money spent doing so

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Question 22 pts

Which of the following is not capital?

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a computer in the office of an accountant

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a wrench in an auto-repair shop

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a new machine used for producing microchips

[removed]

a migrant worker in the fields of California

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Question 32 ptsSkip to question text.

mc075-1.jpg

Suppose the economy is operating at point A, producing 244 tons of sugar and 1 freight train. The opportunity cost of producing the second freight train is:

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19 tons of sugar.

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25 tons of sugar.

[removed]

225 tons of sugar.

[removed]

6 tons of sugar.

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