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My home
/ ► My courses
/ ► Fall 2013
/ ► Pace Program
/ ► ECON_001_4910FA13
/ ► 21 October - 27 October
/ ► Chapter 2 Practice Exercise - Resource Utilization (Not graded)
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Question 1
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Question text

Our economy ______________ operates on its production possibility curve.
Select one:
a. Sometimes
b. Never
c. Usually
d. Always

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c. A part-time worker who wants to work full time.
d. A factory worker who has been laid off and is collecting unemployment insurance benefits.

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Marks for this submission: 1.00/1.00. Accounting for previous tries, this gives 0.70/1.00.
Question 5
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Which statement is true?
Select one:
a. None of the statements are true.
b. We are usually on our production possibilities curve.
c. We are usually outside our production possibilities curve.
d. We are usually inside our production possibilities curve.

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Marks for this submission: 1.00/1.00. Accounting for previous tries, this gives 0.90/1.00.
Question 6
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Which of the following points on the inner production possibilities curve would eventually lead to the greatest level of economic growth?
Select one:
a. Point J
b. Point K
c. Point N
d. Point P

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Marks for this submission: 1.00/1.00. Accounting for previous tries, this gives 0.80/1.00.
Question 7
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Question text

If a nation is currently operating at a point inside its production possibilities curve, it
Select one:
a. has fully employed resources.
b. has no inefficiently employed resources.
c. is operating at full potential.
d. can increase the output of one good

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