简答题The outer loop of the circular-flow diagram represents the flows of dollars in the economy. Which of the following does not appear on the outer loop? A、Wages. B、Income. C、Capital. D、Rent.多选题In the following table, what is the opportunity cost to Libraryland of increasing the production of books from 200 to 300? A、100 magazines. B、150 magazines. C、200 magazines. D、350 magazines.简答题Production is efficient if the economy is producing at a point ______. A、on the production possibilities frontier B、outside the production possibilities frontier C、on or inside the production possibilities frontier D、inside the production possibilities frontier简答题In the simple circular-flow diagram, households ______. A、are the only decision makers B、own the factors of production C、are buyers of inputs D、consume only some of the goods and services that firms produce多选题The following table contains some production possibilities for an economy for a given year: If the production possibilities frontier is bowed outward, then "?" could be ______. A、4400. B、4300. C、4200. D、4100.简答题The circular-flow diagram is an example of ______. A、a laboratory experiment B、an economic model C、a mathematical model D、All of the above are correct.简答题When a production possibilities frontier is bowed outward, the opportunity cost of producing an additional unit of a good ______. A、increases as more of the good is produced B、decreases as more of the good is produced C、does not change as more of the good is produced D、may increase, decrease, or not change as more of the good is produced简答题Which of the following trade-offs does the production possibilities frontier illustrate? A、If an economy wants to increase efficiency in production, then it must sacrifice equality in consumption. B、Once an economy has reached the efficient points on its production possibilities frontier, the only way of getting more of one good is to get less of the other. C、For an economy to consume more of one good, it must stop consuming the other good entirely. D、For an economy to produce and consume goods, it must sacrifice environmental quality.简答题Efficiency is illustrated by ______. A、both the production possibilities frontier and the circular-flow diagram B、neither the production possibilities frontier nor the circular-flow diagram. C、the production possibilities frontier only D、the circular-flow diagram only.多选题Which arrow in the following graph represents the flow of land, labor, and capital? A、A. B、B. C、C. D、D.简答题Unemployment would cause an economy to ______. A、produce inside its production possibilities frontier B、produce on its production possibilities frontier C、produce outside its production possibilities frontier D、experience an inward shift of its production possibilities frontier简答题When constructing a production possibilities frontier, which of the following assumptions is not made? A、The economy produces only two goods or two types of goods. B、Firms produce goods using factors of production. C、The technology available to firms is given. D、The quantities of the factors of production that are available are increasing over the relevant time period.简答题Factors of production are ______. A、the mathematical calculations firms make in determining their optimal production levels B、social and political conditions that affect production C、the physical relationships between economic inputs and outputs D、inputs into the production process简答题Which of the following transactions does not take place in the markets for factors of production in the circular-flow diagram? A、A landowner leases land to a farmer. B、A farmer hires a teenager to help with harvest. C、A construction company rents trucks for its business. D、A woman buys corn for dinner.多选题At which point of the following PPF is this economy producing its maximum possible quantity of pans? A、J. B、L. C、M. D、N.简答题Which markets are represented in the simple circular-flow diagram? A、Markets for goods and services and markets for financial assets. B、Markets for factors of production and markets for financial assets. C、Markets for goods and services and markets for factors of production. D、Markets for goods and services and markets for imports and exports.简答题The opportunity cost of obtaining more of one good is shown on the production possibilities frontier as the ______. A、amount of the other good that must be given up B、market price of the additional amount produced C、amount of resources that must be devoted to its production D、number of dollars that must be spent to produce it简答题In the simple circular-flow diagram, the participants in the economy are ______. A、firms and government B、households and firms C、households and government D、households, firms, and government多选题If Box A of the following circular-flow diagram represents firms, then which box represents households? A、Box B. B、Box C. C、Box D. D、Any one of the other boxes (B, C, or D) could represent households.简答题Which of these terms are used interchangeably? A、"goods and services" and "inputs" B、"goods and services" and "factors of production" C、"inputs" and "factors of production" D、"land, labor, and capital" and "goods and services"