简答题A production possibilities frontier is a graph that shows the combination of outputs that an economy should produce.简答题When each person specializes in producing the good in which he or she has a comparative advantage, total production in the economy ______. A、falls B、stays the same C、rises D、may fall, rise, or stay the same简答题Comparative advantage is related most closely to ______. A、output per hour B、opportunity cost C、efficiency D、bargaining strength in international trade简答题It takes Anne 3 hours to make a pie and 4 hours to make a shirt. It takes Mary 2 hours to make a pie and 5 hours to make a shirt. Anne should specialize in making shirts and Mary should specialize in making pies, and they should trade.简答题Differences in opportunity cost allow for gains from trade.多选题Given that Aruba and Iceland can switch between producing coolers and producing radios at a constant rate. Aruba’s opportunity cost of one cooler is ______. A、0.4 radio and Iceland’s opportunity cost of one cooler is 0.25 radio B、0.4 radio and Iceland’s opportunity cost of one cooler is 4 radios C、2.5 radios and Iceland’s opportunity cost of one cooler is 0.25 radio D、2.5 radios and Iceland’s opportunity cost of one cooler is 4 radios简答题Mike and Sandy are two woodworkers who both make tables and chairs. In one month, Mike can make 4 tables or 20 chairs, where Sandy can make 6 tables or 18 chairs. Given this, we know that the opportunity cost of 1 chair is ______. A、1/5 table for Mike and 1/3 table for Sandy B、1/5 table for Mike and 3 tables for Sandy C、5 tables for Mike and 1/3 table for Sandy D、5 tables for Mike and 3 tables for Sandy简答题If Shawn can produce more donuts in one day than Sue can produce in one day, then ______. A、Shawn has a comparative advantage in the production of donuts B、Sue has a comparative advantage in the production of donuts C、Shawn has an absolute advantage in the production of donuts D、Sue has an absolute advantage in the production of donuts简答题When an economist points out that you and millions of other people are interdependent, he or she is referring to the fact that we all ______. A、rely upon the government to provide us with the basic necessities of life. B、rely upon one another for the goods and services we consume C、have similar tastes and abilities. D、are concerned about one another’s well-being多选题Given that Andia and Zardia can switch between producing wheat and producing beef at a constant rate. Assume that Andia and Zardia each has 60 minutes available. If each person spends all his time producing the good in which he has a comparative advantage, then total production is ______. A、3 bushels of wheat and 6 pounds of beef B、3.5 bushels of wheat and 5.5 pounds of beef C、4 bushels of wheat and 5 pounds of beef D、7 bushels of wheat and 11 pounds of beef简答题Ben bakes bread and Shawna knits sweaters. Ben and Shawna both like to eat bread and wear sweaters. In which of the following cases is it impossible for both Ben and Shawna to benefit from trade? A、Ben cannot knit sweaters and Shawna cannot bake bread. B、Ben is better than Shawna at baking bread and Shawna is better than Ben at knitting sweaters. C、Ben is better than Shawna at baking bread and at knitting sweaters. D、Both Ben and Shawna can benefit from trade in all of the above cases.简答题The gains from trade are ______. A、evident in economic models, but seldom observed in the real world B、evident in the real world, but impossible to capture in economic models C、a result of more efficient resource allocation than would be observed in the absence of trade D、based on the principle of absolute advantage简答题Absolute advantage is found by comparing different producers' ______. A、opportunity costs B、payments to land, labor, and capital C、input requirements per unit of output D、locational and logistical circumstances简答题If one producer has the absolute advantage in the production of all goods, then that same producer will have the comparative advantage in the production of all goods as well.多选题Based on the following PPFs, if Hosne and Merve switch from each person dividing her time equally between the production of purses and wallets to each person spending all of her time producing the good in which she has a comparative advantage, then total production of purses will increase by ______. A、2 B、3 C、5 D、10简答题If a person chooses self-sufficiency, then she can only consume what she produces.简答题Regan grows flowers and makes ceramic vases. Jayson also grows flowers and makes ceramic vases, but Regan is better at producing both goods. In this case, trade could ______. A、benefit both Jayson and Regan B、benefit Jayson, but not Regan C、benefit Regan, but not Jayson D、benefit neither Jayson nor Regan简答题Which of the following would not result from all countries specializing according to the principle of comparative advantage? A、The size of the economic pie would increase. B、Worldwide production of goods and services would increase. C、The well-being of citizens in each country would be enhanced. D、Each country’s production possibilities frontier would shift inward.简答题Two individuals engage in the same two productive activities. In which of the following circum-stances would neither individual have a comparative advantage in either activity? A、One individual’s production possibilities frontier is steeper than the other individual’s production possibilities frontier. B、One individual is faster at both activities than the other individual. C、One individual’s opportunity costs are the same as the other individual’s opportunity costs. D、None of the above is correct; one of the two individuals always will have a comparative advantage in at least one of the two activities.简答题Kelly and David are both capable of repairing cars and cooking meals. Which of the following scenarios is not possible? A、Kelly has a comparative advantage in repairing cars and David has a comparative advantage in cooking meals. B、Kelly has an absolute advantage in repairing cars and David has an absolute advantage in cooking meals. C、Kelly has a comparative advantage in repairing cars and in cooking meals. D、David has an absolute advantage in repairing cars and in cooking meals.