Economics For Today
9th Edition
ISBN: 9781305507074
Author: Tucker, Irvin B.
Publisher: Cengage Learning,
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Question
Chapter 3.A, Problem 9SQ
To determine
Which of the option is fit for the given statement.
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Students have asked these similar questions
1- Economy X and Economy Y produce two types of goods, A and B. They have the
following data
Good A
Good B
Available Labor
Used Labor:
Determine:
A.
B.
Good A: +312,500 // Good B: +200,000
Good A-150.000 // Good B +600.000
D. Good A +175,000 // Good B-437,500
None of the above
Economy X
4 units of labor
1 unit of labor
1,500,000
40% Good A 50% Good B
The change in production of each good if the economies trade with each other. Assume they
will maintain the same level of activity as the original scenario (they do not increase nor
decrease total labor used)
Good A: +25,000 // Good B: +162.500
C.
E
Economy Y
5 units of labor
2 units of labor
2,500,000
30% Good A 35% Good B
Question 2
Which of the following statements best represents the principle represented by the adage,
"There is no such thing as a free lunch"?
Negan U. must decide between going to a track event or doing her nails.
Sarah B. can attend the concert only if she takes her sister with her.
O Charlie H. is hungry and homeless.
Cullen J. must repair the tire on his bike before he can ride it to class.
Question 3
Mannon M. and Cade L. are planning their activities for a cold winter day. They would like to go
to the local ice rink to play hockey and see the latest Oscar winner movie, "Parasite". Because
Mannon M. and Cade L. can only get tickets to the movie for the same time that the ice rink is
open, they can only choose one activity. This illustrates the basic principle that
rational people think at the margin.
people face trade-offs.
O people respond to incentives.
trade can make everyone better off.
a.
b.
Quantity of good Y
C.
d.
0
Y
e.
8
X1 X2 X3
The total effect is the movement from
X3 to X₂.
X4 to X₁.
X3 to X₁.
X4 to X₂.
X₂ to X4.
Answer A
Answer D
X4
Quantity of good X
Answer B
Answer E
||
O Answer C
X
Chapter 3 Solutions
Economics For Today
Ch. 3.6 - Prob. 1YTECh. 3.7 - Prob. 1GECh. 3.7 - Prob. 2GECh. 3.7 - Prob. 3GECh. 3.A - Prob. 1SQPCh. 3.A - Prob. 2SQPCh. 3.A - Prob. 3SQPCh. 3.A - Prob. 4SQPCh. 3.A - Prob. 1SQCh. 3.A - Prob. 2SQ
Ch. 3.A - Prob. 3SQCh. 3.A - Prob. 4SQCh. 3.A - Prob. 5SQCh. 3.A - Prob. 6SQCh. 3.A - Prob. 7SQCh. 3.A - Prob. 8SQCh. 3.A - Prob. 9SQCh. 3.A - Prob. 10SQCh. 3 - Prob. 1SQPCh. 3 - Prob. 2SQPCh. 3 - Prob. 3SQPCh. 3 - Prob. 4SQPCh. 3 - Prob. 5SQPCh. 3 - Prob. 6SQPCh. 3 - Prob. 7SQPCh. 3 - Prob. 8SQPCh. 3 - Prob. 9SQPCh. 3 - Prob. 10SQPCh. 3 - Prob. 11SQPCh. 3 - Prob. 12SQPCh. 3 - Prob. 1SQCh. 3 - Prob. 2SQCh. 3 - Prob. 3SQCh. 3 - Prob. 4SQCh. 3 - Prob. 5SQCh. 3 - Prob. 6SQCh. 3 - Prob. 7SQCh. 3 - Prob. 8SQCh. 3 - Prob. 9SQCh. 3 - Prob. 10SQCh. 3 - Prob. 11SQCh. 3 - Prob. 12SQCh. 3 - Prob. 13SQCh. 3 - Prob. 14SQCh. 3 - Prob. 15SQCh. 3 - Prob. 16SQCh. 3 - Prob. 17SQCh. 3 - Prob. 18SQCh. 3 - Prob. 19SQCh. 3 - Prob. 20SQ
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