Principles of Economics 7th Edition Frank Test Bank.pdf

DOWNLOAD THE Test Bank for Principles of Economics 7th Edition Frank
m m m m m m m m m m




Principlesm ofm Economics,m 7em (Frank)m
Chapterm2
ComparativemAdvantag
e

1) Anmindividualmhasmanmabsolutemadvantageminmproducingmpizzasmif mthat mindividual:
A) hasmamlowermopportunitymcost mof mproducingmpizzasmthanmanyonemelse.
B) canmproducemmorempizzasminmamgivenmamount mof mtimemthanmanyonemelse.
C) hasmamhighermopportunitymcost mof mproducingmpizzasmthanmanyonemelse.
D) chargesmthemlowest mpricemformpizzas.

2) If mAlmhasmanmabsolutemadvantagemovermBethminmpreparingmmeals,mthen:
A) it mtakesmAlmmoremtimemtompreparemammealmthanmBeth.
B) themproblemmof mscarcitymappliesmtomBethmbut mnot mtomAl.
C) Al'smopportunitymcost mof mpreparingmammealmismlowermthanmismBeth's.
D) Almcanmpreparemmoremmealsminmamgivenmtimemperiod mthanmBeth.

3) If mLesmcanmproducemtwompairsmof mpantsmpermhourmwhilemEvamcanmproducemonempairmpermhour,mt
henmit mmust mbemtruemthat:
A) Lesmhasmamcomparativemadvantageminmproducingmpants.
B) Lesmhasmanmabsolutemadvantageminmproducingmpants.
C) Evamhasmamcomparativemadvantageminmproducingmpants.
D) Lesmhasmbothmcomparativemand mabsolutemadvantageminmproducingmpants.

4) If mamnationmcanmproducemammoremcomputersmpermyearmthanmanymothermnation,mthat mnationmhasma(n
)
advantageminmthemproductionmof mcomputers.
A) comparative
B) absolute
C) relative
D) natural

5) If myoumhavemamcomparativemadvantageminmamparticularmtask,mthen:
A) youmcompletemit mfastermthanmothermpeople.
B) youmgivemupmmoremtomaccomplishmthat mtaskmthanmdomothers.
C) youmgivemupmlessmtomaccomplishmthat mtaskmthanmdomothers.
D) youmhavemspecialized minmthat mtask,mwhilemothersmhavemnot.

6) Larrymhasmamcomparativemadvantagemovermhismclassmatesminmwritingmtermmpapersm if mhe:
A) canmwritemtermmpapersmfastermthanmhismclassmates.
B) hasmanmabsolutemadvantageminmwritingmtermmpapers.
C) alwaysmearnsmanmA monmhismtermmpapers.
D) hasmamlowermopportunitymcost mof mwritingmtermmpapersmthanmhismclassmates.




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Copyright m2019 m©mMcGraw-
HillmEducation.mAllmrightsmreserved.mNo mreproduction mormdistribution mwithout mthempriormwritten mconsent mof mMc
Graw-HillmEducation.
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,DOWNLOAD THE Test Bank for Principles of Economics 7th Edition Frank
m m m m m m m m m m




7) If mamnationmhasmthemlowest mopportunitymcost mof mproducingmamgood,mthat mnationmhasma(n)m
minmthemproductionmof mthat mgood.

A) comparativemadvantage
B) absolutemadvantage
C) comparativemadvantagemand manmabsolutemadvantage
D) absolutemadvantagemand mpossiblymamcomparativemadvantage

8) Whichmof mthemfollowingmstatementsmismtrue?
A) Absolutemadvantagemimpliesmcomparativemadvantage.
B) Comparativemadvantagemdoesmnot mrequiremabsolutemadvantage.
C) Absolutemadvantagemrequiresmcomparativemadvantage.
D) Comparativemadvantagemrequiresmabsolutemadvantage.

9) If mJanemcanmproducem3mpairsmof mshoesmpermhour,mwhilemBobmcanmproducem2,mthenm
hasma(n)m advantageminmproducingmshoes.
A) Jane;mabsolute
B) Jane;mcomparative
C) Bob;mabsolute
D) Bob;mcomparative

10) Accordingmtomthemaccompanyingmtable,mMarthamhasmthemabsolutemadvantageminmmaking:


TimemtomMakemamPie TimemtomMakemamCake
Martha 60mminutes 80mminutes
Julia 50mminutes 60mminutes


A) pies.
B) neithermpiesmnormcakes.
C) cakes.
D) bothmpiesmand mcakes.

11) Accordingmtomthemaccompanyingmtable,mJuliamhasmthemabsolutemadvantageminmmaking:


TimemtomMakemamPie TimemtomMakemamCake
Martha 60mminutes 80mminutes
Julia 50mminutes 60mminutes


A) pies.
B) neithermpiesmnormcakes.
C) cakes.
D) bothmpiesmand mcakes.
2
Copyright m2019 m©mMcGraw-
HillmEducation.mAllmrightsmreserved.mNo mreproduction mormdistribution mwithout mthempriormwritten mconsent mof mMc
Graw-HillmEducation.
mynursytest.store

,DOWNLOAD THE Test Bank for Principles of Economics 7th Edition Frank
m m m m m m m m m m




12) Refermtomthemaccompanyingmtable.mMartha'smopportunitymcost mof mmakingmof mampiemis:


TimemtomMakemamPie TimemtomMakemamCake
Martha 60mminutes 80mminutes
Julia 50mminutes 60mminutes


A) 3/4mof mamcake.
B) 4/3mof mamcake.
C) 8mcakes.
D) 80mcakes.

13) Refermtomthemaccompanyingmtable.mMartha'smopportunitymcost mof mmakingmamcakemis:


TimemtomMakemamPie TimemtomMakemamCake
Martha 60mminutes 80mminutes
Julia 50mminutes 60mminutes


A) 3/4mof mampie.
B) 4/3mof mampie.
C) 6mpies.
D) 60mpies.

14) Refermtomthemaccompanyingmtable.mJulia'smopportunitymcost mof mmakingmampiemis:


TimemtomMakemamPie TimemtomMakemamCake
Martha 60mminutes 80mminutes
Julia 50mminutes 60mminutes


A) 60mcakes.
B) 6mcakes.
C) 6/5mof mamcake.
D) 5/6mof mamcake.




3
Copyright m2019 m©mMcGraw-
HillmEducation.mAllmrightsmreserved.mNo mreproduction mormdistribution mwithout mthempriormwritten mconsent mof mMc
Graw-HillmEducation.
mynursytest.store

, DOWNLOAD THE Test Bank for Principles of Economics 7th Edition Frank
m m m m m m m m m m




15) Refermtomthemaccompanyingmtable.mJulia'smopportunitymcost mof mmakingmamcakemis:


TimemtomMakemamPie TimemtomMakemamCake
Martha 60mminutes 80mminutes
Julia 50mminutes 60mminutes


A) 60mcakes.
B) 6mcakes.
C) 6/5mof mamcake.
D) 5/6mof mamcake.

16) Refermtomthemaccompanyingmtable.m
hasmthemcomparativemadvantageminmmakingmpiesmand m
themcomparativemadvantageminmmakingmcakes.


TimemtomMakemamPie TimemtomMakemamCake
Martha 60mminutes 80mminutes
Julia 50mminutes 60mminutes


A) Martha;mMartha
B) Julia;mJulia
C) Martha;mJulia
D) Julia;mMartha

17) Refermtomthemaccompanyingmtable.mBased monmtheirmcomparativemadvantage,mMarthamshou
ld mspecializeminmmakingm whilemJuliamshould mspecializeminmmakingm .


TimemtomMakemamPie TimemtomMakemamCake
Martha 60mminutes 80mminutes
Julia 50mminutes 60mminutes


A) pies;mcakes
B) cakes;mpies
C) neithermpiesmnormcakes;mbothmpiesmand mcakes
D) bothmpiesmand mcakes;mneithermpiesmnormcakes




4
Copyright m2019 m©mMcGraw-
HillmEducation.mAllmrightsmreserved.mNo mreproduction mormdistribution mwithout mthempriormwritten mconsent mof mMc
Graw-HillmEducation.
mynursytest.store