Production Possibility Curves
Quiz by Dyas Rakhmasary
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- Q 1/5Score 0
Country Z operates with a production possibility curve (PPC). Currently, output is at combination 1. Which movement has zero opportunity cost in terms of the goods produced?
291 to 3
1 to 2
3 to 4
2 to 3
- Q1
Country Z operates with a production possibility curve (PPC). Currently, output is at combination 1. Which movement has zero opportunity cost in terms of the goods produced?
1 to 3
1 to 2
3 to 4
2 to 3
300s - Q2
PPC is the production possibility curve in country T. Which changes take place in country T’s opportunity costs of producing X as it increases production of X?
Opportunity costs increase between points 1 and 2, and between points 3 and 4.
Opportunity costs decrease between points 1 and 2, and between points 3 and 4.
Opportunity costs decrease between points 1 and 2, and increase between points 3 and 4.
Opportunity costs are constant between points 1 and 2, and between points 3 and 4.
300s - Q3
The diagram shows the change in a country’s production possibility curve from XX to YY. What would explain this change?
Consumers chose to consume more food and less drink.
Government taxed food production and subsidised drink production.
There were more imports of food and more exports of drink.
Productivity rose in food production and fell in drink production.
300s - Q4
Assuming nothing else changes, which change in an economy’s labour market will cause the production possibility curve to shift to the left?
an increase in the retirement age
an increase in labour productivity
an increase in the school leaving age
an increase in worker immigration
300s - Q5
The diagram shows the production possibility curve for wheat and corn. What can be deduced from the diagram?
The opportunity cost of producing corn falls when moving from M to N.
Resources used in producing corn are more efficient than in producing wheat.
As the price of corn falls, more of it is demanded.
The opportunity cost of producing corn is constant when moving from M to N.
300s
