Question

figure: Production Possibilities

Reference: Ref 2-1

__(Figure: Production Possibilities) Which of the following is NOT correct regarding combination X?

The combination is productively efficient.

		The combination is productively efficient.
		Society might judge other combinations on the line to be preferable to X.
		Because it is on the line, combination X has no opportunity cost.
		The combination might not be allocatively efficient.

My instructor told me the right answer and told me to explain why is the B is the right answer? If u explain I would really appreciate it!!

 

11.	Between 1990 and 2010, the number of people in the world living in poverty has:
stayed roughly the same.
			been cut in half.
			doubled.
			increased by 50%.

My instructor told me the right answer and told me to explain why is the A is the right answer? If u explain I would really appreciate it!!

12.

	2012	2013	2014
Nominal GDP (billions of $)	7,280		8,000
Real GDP (billions of $)	7,280	7,425
GDP deflator		103.6	106.1

According to the table, the nominal GDP for 2013 is approximate:

		$7,292 billion.
		$7,492 billion.
		$7,692 billion.
		$7,892 billion.

My instructor told me the right answer and told me to explain why is the C is the right answer? If u explain I would really appreciate it!!

26.

If the cost of a typical market basket is 400 in 2018, 410 in 2019, and 405 in 2020, then during this period the economy is undergoing:

		inflation.
		disinflation.
		deflation.
		hyperinflation.

My instructor told me the right answer and told me to explain why is the B is the right answer? If u explain I would really appreciate it!!

Population	500
Number employed	300
Number unemployed	50

(Table) According to the table, what is the unemployment rate of this economy?

		10%
		14.3%
		16.67%
		25%

My instructor told me the right answer and told me to explain why is the B is the right answer? If u explain I would really appreciate it!!

29.	The inflation rate is 4%. Social Security payments automatically rise by 4%. This adjustment is authorized by an:

..

		inflation rate.
		escalator clause.
		elevator clause.
		insanity clause.

Score: 0 of 1

34.

We are least likely to be heading into a recession when the National Activity Index equals:

	–0.33.
		0.55.
		–0.98.
		0.81.

Score: 0 of

My instructor told me the right answer and told me to explain why is D is the right answer? If u explain I would really appreciate it!!