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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
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opportunity cost; in terms of the money it costs
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constant cost; by the slope of the production possibilities curve at that level
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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
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a migrant worker in the fields of California
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Question 32 ptsSkip to question text.
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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.
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225 tons of sugar.
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6 tons of sugar.
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