TB Part 3| 2025/2026 Complete Exam Questions and Correct Answers (Verified Answers)
Refer to Figure 3-7. If Bintu and Juba both spend all of their time making bowls, then total
production is
a. 2 bowls.
b. 3 bowls.
c. 4 bowls.
d. 6 bowls. D
Refer to Figure 3-7. If Bintu and Juba each divides her time equally between making bowls
and making cups, then total production is
a. 2 bowls and 6 cups.
b. 3 bowls and 7 cups.
c. 4 bowls and 8 cups.
d. 6 bowls and 14 cups. B
Refer to Figure 3-7. If the production possibilities frontiers shown are each for 4 hours of
work, then which of the following combinations of bowls and cups could Bintu and Juba
together
make in a given 4-hour production period?
a. 1 bowl and 14 cups
b. 2 bowls and 11 cups
c. 3 bowls and 10 cups
d. 5 bowls and 5 cups B
. Refer to Figure 3-7. If the production possibilities frontiers shown are each for 4 hours of
work, then which of the following combinations of bowls and cups could Bintu and Juba
together
not make in a given 4-hour production period?
,a. 3 bowls and 9.5 cups
b. 4.5 bowls and 6 cups
c. 5 bowls and 4 cups
d. 6 bowls and 1 cups D
Refer to Figure 3-8. If Chile and Colombia each divides its time equally between making
coffee and making soybeans, then total production is
a. 12 pounds of coffee and 12 pounds of soybeans.
b. 14 pounds of coffee and 9 pounds of soybeans.
c. 16 pounds of coffee and 6 pounds of soybeans.
d. 28 pounds of coffee and 18 pounds of soybeans B
Refer to Figure 3-8. If the production possibilities frontiers shown are each for one day of
production, then which of the following combinations of coffee and soybeans could Chile and
Colombia together make in a given day?
a. 4 pounds of coffee and 16 pounds of soybeans
b. 8 pounds of coffee and 15 pounds of soybeans
c. 16 pounds of coffee and 10 pounds of soybeans
d. 24 pounds of coffee and 4 pounds of soybeans A
Refer to Figure 3-8. If the production possibilities frontiers shown are each for one day of
production, then which of the following combinations of pounds of coffee and pounds of
soybeans could Chile and Colombia together not make in a given day?
a. 4 pounds of coffee and 17 pounds of soybeans
b. 8 pounds of coffee and 14 pounds of soybeans
c. 16 pounds of coffee and 9 pounds of soybeans
d. 24 pounds of coffee and 3 pounds of soybeans A
,Refer to Figure 3-9. If Uzbekistan and Azerbaijan each divides its time equally between
making bolts and making nails, then total production is
a. 15 bolts and 40 nails.
b. 25 bolts and 70 nails.
c. 30 bolts and 80 nails.
d. 50 bolts and 140 nails. B
Refer to Figure 3-9. If the production possibilities frontiers shown are each for two days of
production, then which of the following combinations of bolts and nails could Uzbekistan and
Azerbaijan together make in a given 2- day production period?
a. 12 bolts and 120 nails
b. 24 bolts and 96 nails
c. 38 bolts and 50 nails
d. 44 bolts and 24 nails D
. Refer to Figure 3-9. If the production possibilities frontiers shown are each for two days of
production, then which of the following combinations of bolts and nails could Uzbekistan and
Azerbaijan together not make in a given 2-day production period?
a. 9 bolts and 122 nails
b. 21 bolts and 98 nails
c. 36 bolts and 56 nails
d. 47 bolts and 18 nails D
Refer to Figure 3-10. Both Alice and Betty
a. face a constant trade-off between producing pitchers of lemonade and pizzas.
b. can produce more pizzas than pitchers of lemonade if they devote all of their time to pizza
, production.
c. would benefit from specializing in lemonade production.
d. would benefit from specializing in pizza production A
Refer to Figure 3-10. If Alice produces only lemonade, she can produce
a. 200 pitchers per day.
b. 300 pitchers per day.
c. 400 pitchers per day.
d. 450 pitchers per day. C
Refer to Figure 3-10. If point A represents Alice's production and point B represents Betty's
production,
a. Alice produces 200 pitchers of lemonade and 100 pizzas while Betty produces 180 pitchers of
lemonade and 180 pizzas.
b. Alice produces 180 pitchers of lemonade and 180 pizzas while Betty produces 200 pitchers of
lemonade and 100 pizzas.
c. Alice produces 100 pitchers of lemonade and 200 pizzas while Betty produces 180 pitchers of
lemonade and 180 pizzas.
d. Only Alice can benefit from specialization and trade A
Refer to Figure 3-10. If point A represents Alice's current production and point B represents
Betty's current production, under what circumstances can both Alice and Betty benefit from
specialization and trade?
a. Alice produces more pizzas and Betty produces more lemonade.
b. Alice produces more lemonade and Betty produces more pizzas.
c. Both Alice and Betty produce only pizzas.
d. There are no circumstances under which both Alice and Betty can benefit from specialization
Refer to Figure 3-7. If Bintu and Juba both spend all of their time making bowls, then total
production is
a. 2 bowls.
b. 3 bowls.
c. 4 bowls.
d. 6 bowls. D
Refer to Figure 3-7. If Bintu and Juba each divides her time equally between making bowls
and making cups, then total production is
a. 2 bowls and 6 cups.
b. 3 bowls and 7 cups.
c. 4 bowls and 8 cups.
d. 6 bowls and 14 cups. B
Refer to Figure 3-7. If the production possibilities frontiers shown are each for 4 hours of
work, then which of the following combinations of bowls and cups could Bintu and Juba
together
make in a given 4-hour production period?
a. 1 bowl and 14 cups
b. 2 bowls and 11 cups
c. 3 bowls and 10 cups
d. 5 bowls and 5 cups B
. Refer to Figure 3-7. If the production possibilities frontiers shown are each for 4 hours of
work, then which of the following combinations of bowls and cups could Bintu and Juba
together
not make in a given 4-hour production period?
,a. 3 bowls and 9.5 cups
b. 4.5 bowls and 6 cups
c. 5 bowls and 4 cups
d. 6 bowls and 1 cups D
Refer to Figure 3-8. If Chile and Colombia each divides its time equally between making
coffee and making soybeans, then total production is
a. 12 pounds of coffee and 12 pounds of soybeans.
b. 14 pounds of coffee and 9 pounds of soybeans.
c. 16 pounds of coffee and 6 pounds of soybeans.
d. 28 pounds of coffee and 18 pounds of soybeans B
Refer to Figure 3-8. If the production possibilities frontiers shown are each for one day of
production, then which of the following combinations of coffee and soybeans could Chile and
Colombia together make in a given day?
a. 4 pounds of coffee and 16 pounds of soybeans
b. 8 pounds of coffee and 15 pounds of soybeans
c. 16 pounds of coffee and 10 pounds of soybeans
d. 24 pounds of coffee and 4 pounds of soybeans A
Refer to Figure 3-8. If the production possibilities frontiers shown are each for one day of
production, then which of the following combinations of pounds of coffee and pounds of
soybeans could Chile and Colombia together not make in a given day?
a. 4 pounds of coffee and 17 pounds of soybeans
b. 8 pounds of coffee and 14 pounds of soybeans
c. 16 pounds of coffee and 9 pounds of soybeans
d. 24 pounds of coffee and 3 pounds of soybeans A
,Refer to Figure 3-9. If Uzbekistan and Azerbaijan each divides its time equally between
making bolts and making nails, then total production is
a. 15 bolts and 40 nails.
b. 25 bolts and 70 nails.
c. 30 bolts and 80 nails.
d. 50 bolts and 140 nails. B
Refer to Figure 3-9. If the production possibilities frontiers shown are each for two days of
production, then which of the following combinations of bolts and nails could Uzbekistan and
Azerbaijan together make in a given 2- day production period?
a. 12 bolts and 120 nails
b. 24 bolts and 96 nails
c. 38 bolts and 50 nails
d. 44 bolts and 24 nails D
. Refer to Figure 3-9. If the production possibilities frontiers shown are each for two days of
production, then which of the following combinations of bolts and nails could Uzbekistan and
Azerbaijan together not make in a given 2-day production period?
a. 9 bolts and 122 nails
b. 21 bolts and 98 nails
c. 36 bolts and 56 nails
d. 47 bolts and 18 nails D
Refer to Figure 3-10. Both Alice and Betty
a. face a constant trade-off between producing pitchers of lemonade and pizzas.
b. can produce more pizzas than pitchers of lemonade if they devote all of their time to pizza
, production.
c. would benefit from specializing in lemonade production.
d. would benefit from specializing in pizza production A
Refer to Figure 3-10. If Alice produces only lemonade, she can produce
a. 200 pitchers per day.
b. 300 pitchers per day.
c. 400 pitchers per day.
d. 450 pitchers per day. C
Refer to Figure 3-10. If point A represents Alice's production and point B represents Betty's
production,
a. Alice produces 200 pitchers of lemonade and 100 pizzas while Betty produces 180 pitchers of
lemonade and 180 pizzas.
b. Alice produces 180 pitchers of lemonade and 180 pizzas while Betty produces 200 pitchers of
lemonade and 100 pizzas.
c. Alice produces 100 pitchers of lemonade and 200 pizzas while Betty produces 180 pitchers of
lemonade and 180 pizzas.
d. Only Alice can benefit from specialization and trade A
Refer to Figure 3-10. If point A represents Alice's current production and point B represents
Betty's current production, under what circumstances can both Alice and Betty benefit from
specialization and trade?
a. Alice produces more pizzas and Betty produces more lemonade.
b. Alice produces more lemonade and Betty produces more pizzas.
c. Both Alice and Betty produce only pizzas.
d. There are no circumstances under which both Alice and Betty can benefit from specialization
