ECON 200 UOFA Test 1 Newest 2025 Complete
Questions And Correct Answers (Verified Answers)
|Already Graded A+||Brand New!!University of
Arizona
Refer to the following a. 4 artificial hearts
table for the next b. 2 artificial hearts
question. Art Medical c. 600 peacemakers
d. 200 peacemakers
Devices and Braun
Engineering are both
manufacturers of
heart implants that can
create artificial hearts or
pacemakers each fiscal year.
The following table describes
their maximum outputs per
year.
Identify opportunity cost for
following:
a. Art's opportunity cost of a
pacemaker?
b. Braun's
opportunity cost of a
pacemaker?
c. Art's opportunity cost of
an artificial heart?
d. Braun's opportunity cost
of an artificial heart?
Based on the table, who has Art has the advantage because he can produce more of both.
an absolute advantage in
manufacturing artificial hearts
and pacemaker?
Are positive statements They can be measured against both
measured against tangible
, evidence or historical
instances?
"Low unemployment rates This is a normative statement because it says should meaning that
should be the it ought to be.
primary goal of monetary
policy" - Is this a normative
or positive statement?
Refer to these graphs to a. 1 airplane
answer the next question. b. 1.6 cars
The graphs below depict the c. 1 car
production possibilities
frontiers (PPF) for two
countries that can allocate
the same
amount of time to making cars
and making airplanes.
1. What is opportunity cost for
following?
a. Spain's opportunity cost
of making one car?
b. Italy's opportunity cost
of making one airplane?
c. Spain's opportunity cost
of making one airplane?
Which country has absolute Spain because they are both the same whereas in Italy
advantage in production of the cars is lower but the airplanes is higher
cars and production of
airplanes?
Do you agree - Spain has a Yes, because the production of cars in Italy is lower.
comparative advantage in
the production of cars
because its opportunity cost
is lower.
Questions And Correct Answers (Verified Answers)
|Already Graded A+||Brand New!!University of
Arizona
Refer to the following a. 4 artificial hearts
table for the next b. 2 artificial hearts
question. Art Medical c. 600 peacemakers
d. 200 peacemakers
Devices and Braun
Engineering are both
manufacturers of
heart implants that can
create artificial hearts or
pacemakers each fiscal year.
The following table describes
their maximum outputs per
year.
Identify opportunity cost for
following:
a. Art's opportunity cost of a
pacemaker?
b. Braun's
opportunity cost of a
pacemaker?
c. Art's opportunity cost of
an artificial heart?
d. Braun's opportunity cost
of an artificial heart?
Based on the table, who has Art has the advantage because he can produce more of both.
an absolute advantage in
manufacturing artificial hearts
and pacemaker?
Are positive statements They can be measured against both
measured against tangible
, evidence or historical
instances?
"Low unemployment rates This is a normative statement because it says should meaning that
should be the it ought to be.
primary goal of monetary
policy" - Is this a normative
or positive statement?
Refer to these graphs to a. 1 airplane
answer the next question. b. 1.6 cars
The graphs below depict the c. 1 car
production possibilities
frontiers (PPF) for two
countries that can allocate
the same
amount of time to making cars
and making airplanes.
1. What is opportunity cost for
following?
a. Spain's opportunity cost
of making one car?
b. Italy's opportunity cost
of making one airplane?
c. Spain's opportunity cost
of making one airplane?
Which country has absolute Spain because they are both the same whereas in Italy
advantage in production of the cars is lower but the airplanes is higher
cars and production of
airplanes?
Do you agree - Spain has a Yes, because the production of cars in Italy is lower.
comparative advantage in
the production of cars
because its opportunity cost
is lower.
