BSNS113 Quiz Practice Questions and Answers | 2025/2026
Which of the following is most The role of the Reserve Bank in controlling inflation.
likely a macroeconomic
topic?
Consider the following two (i) is a positive statement and (ii) a normative statement.
statements: i.Humans tend to
have effectively unlimited
wants for goods and
services.
ii.Humans should limit their
consumption for the sake of
the environment.
Suppose that to sit an exam $100 plus a few cents for the 'wear-and-tear' to your pencil.
you had to take three hours
off from your tele-
marketing job that you do
from home. The job pays
$30 per hour. As well,
because you live on the
other side of town, you had
to pay $10 in total for buses
to get to the exam and
back. You had to bring a
,pencil, which you already
owned. What is the
opportunity cost to you of
sitting this exam?
After leaving high school, direct cost of attending Otago Uni (fees, books, etc.) plus
Sandra considered three the income and work experience she could have earned
options for what to do next, at the brewery.
listed in order of preference:
(1) attend Otago University,
(2) work at Speights brewery
in Dunedin, or
(3) attend Auckland
University. Sandra's
opportunity cost of
attending Otago Uni is
the
, You paid $100 for a ticket $60
(which is non- refundable) to
go to a concert on Saturday
night. Your boss calls Saturday
afternoon to see if you're
willing to work for three
hours that night. She'll pay
you $20 per hour instead of
your usual $10. What is your
opportunity cost if you
choose to go to the concert?
Imagine a country where it lead to more injuries to cyclists
is not yet compulsory to
wear seat belts in cars. If
wearing seat belts was made
compulsory, this is likely to
The slope of the production should be interpreted as the opportunity cost of a one unit
possibilities frontier (PPF) increase in production of the good measured on the
horizontal axis.
What effect did the destructive It shifted the PPF inward
earthquake that hit
Christchurch in 2011 likely
have on New Zealand's PPF?
Refer to Figure 1. Which of the A, B and C only
points on the diagram
represent technically feasible
combinations of goods and
Which of the following is most The role of the Reserve Bank in controlling inflation.
likely a macroeconomic
topic?
Consider the following two (i) is a positive statement and (ii) a normative statement.
statements: i.Humans tend to
have effectively unlimited
wants for goods and
services.
ii.Humans should limit their
consumption for the sake of
the environment.
Suppose that to sit an exam $100 plus a few cents for the 'wear-and-tear' to your pencil.
you had to take three hours
off from your tele-
marketing job that you do
from home. The job pays
$30 per hour. As well,
because you live on the
other side of town, you had
to pay $10 in total for buses
to get to the exam and
back. You had to bring a
,pencil, which you already
owned. What is the
opportunity cost to you of
sitting this exam?
After leaving high school, direct cost of attending Otago Uni (fees, books, etc.) plus
Sandra considered three the income and work experience she could have earned
options for what to do next, at the brewery.
listed in order of preference:
(1) attend Otago University,
(2) work at Speights brewery
in Dunedin, or
(3) attend Auckland
University. Sandra's
opportunity cost of
attending Otago Uni is
the
, You paid $100 for a ticket $60
(which is non- refundable) to
go to a concert on Saturday
night. Your boss calls Saturday
afternoon to see if you're
willing to work for three
hours that night. She'll pay
you $20 per hour instead of
your usual $10. What is your
opportunity cost if you
choose to go to the concert?
Imagine a country where it lead to more injuries to cyclists
is not yet compulsory to
wear seat belts in cars. If
wearing seat belts was made
compulsory, this is likely to
The slope of the production should be interpreted as the opportunity cost of a one unit
possibilities frontier (PPF) increase in production of the good measured on the
horizontal axis.
What effect did the destructive It shifted the PPF inward
earthquake that hit
Christchurch in 2011 likely
have on New Zealand's PPF?
Refer to Figure 1. Which of the A, B and C only
points on the diagram
represent technically feasible
combinations of goods and
