DOWNLOAD THE Test Bank for Principles of Microeconomics 6th Edition Frank
Strategic management text and cases 9th edition dess testbank
Chapter 02 Test Bank
Student: _______________________________________________________________________________________
1. An individual has an absolute advantage in producing pizzas if that individual:
A. has a lower opportunity cost of producing pizzas than anyone else.
B. can produce more pizzas in a given amount of time than anyone else.
C. has a higher opportunity cost of producing pizzas than anyone else.
D. charges the lowest price for pizzas.
2. If Al has an absolute advantage over Beth in preparing meals, then:
A. it takes Al more time to prepare a meal than Beth.
B. the problem of scarcity applies to Beth but not to Al.
C. Al's opportunity cost of preparing a meal is lower than is Beth's.
D. Al can prepare more meals in a given time period than Beth.
3. If Les can produce two pairs of pants per hour while Eva can produce one pair per hour, then it must be true that:
A. Les has a comparative advantage in producing pants.
B. Les has an absolute advantage in producing pants.
C. Eva has a comparative advantage in producing pants.
D. Les has both comparative and absolute advantage in producing pants.
4. If a nation can produce a more computers per year than any other nation, that nation has a(n) ______ advantage in the production of computers.
A. comparative
B. absolute
C. relative
D. natural
mynursytest.store
, DOWNLOAD THE Test Bank for Principles of Microeconomics 6th Edition Frank
5. If you have a comparative advantage in a particular task, then:
A. you are better at it than other people.
B. you give up more to accomplish that task than do others.
C. you give up less to accomplish that task than do others.
D. you have specialized in that task, while others have not.
6. Larry has a comparative advantage over his classmates in writing term papers if he:
A. can write term papers faster than his classmates.
B. has an absolute advantage in writing term papers.
C. always earns an A on his term papers.
D. has a lower opportunity cost of writing term papers than his classmates.
7. If a nation has the lowest opportunity cost of producing a good, that nation has a(n) ______ in the production of that good.
A. comparative advantage
B. absolute advantage
C. comparative advantage and an absolute advantage D. absolute advantage and possibly a comparative advantage.
8. Which of the following statements is true?
A. Absolute advantage implies comparative advantage.
B. Comparative advantage does not require absolute advantage.
C. Absolute advantage requires comparative advantage.
D. Comparative advantage requires absolute advantage.
9. If Jane can produce 3 pairs of shoes per hour, while Bob can produce 2, then ______ has a(n) ______ advantage in producing shoes.
A. Jane; absolute
B. Jane; comparative
C. Bob; absolute
D. Bob; comparative
10 . Refer to the table below. According to the table, Martha has the absolute advantage in :
mynursytest.store
, DOWNLOAD THE Test Bank for Principles of Microeconomics 6th Edition Frank
A. pies.
B. neither pies nor cakes.
C. cakes.
D. both pies and cakes.
11 . Refer to the table below. According to the table, Julia has the absolute advantage in :
A. pies.
B. neither pies nor cakes.
C. cakes.
D. both pies and cakes.
12 . Refer to the table below. Martha's opportunity cost of making of a pie is :
A. 3/4 of a cake.
B. 4/3 of a cake.
C. 8 cakes.
D. 80 cakes.
13 . Refer to the table below. Martha's opportunity cost of making a cake is :
mynursytest.store
, DOWNLOAD THE Test Bank for Principles of Microeconomics 6th Edition Frank
A. 3/4 of a pie.
B. 4/3 of a pie.
C. 6 pies.
D. 60 pies.
14 . Refer to the table below. Julia's opportunity cost of making a pie is :
A. 60 cakes
B. 6 cakes
C. 6/5 of a cake
D. 5/6 of a cake
15 . Refer to the table below. Julia's opportunity cost of making a cake is :
A. 60 cakes
mynursytest.store
Strategic management text and cases 9th edition dess testbank
Chapter 02 Test Bank
Student: _______________________________________________________________________________________
1. An individual has an absolute advantage in producing pizzas if that individual:
A. has a lower opportunity cost of producing pizzas than anyone else.
B. can produce more pizzas in a given amount of time than anyone else.
C. has a higher opportunity cost of producing pizzas than anyone else.
D. charges the lowest price for pizzas.
2. If Al has an absolute advantage over Beth in preparing meals, then:
A. it takes Al more time to prepare a meal than Beth.
B. the problem of scarcity applies to Beth but not to Al.
C. Al's opportunity cost of preparing a meal is lower than is Beth's.
D. Al can prepare more meals in a given time period than Beth.
3. If Les can produce two pairs of pants per hour while Eva can produce one pair per hour, then it must be true that:
A. Les has a comparative advantage in producing pants.
B. Les has an absolute advantage in producing pants.
C. Eva has a comparative advantage in producing pants.
D. Les has both comparative and absolute advantage in producing pants.
4. If a nation can produce a more computers per year than any other nation, that nation has a(n) ______ advantage in the production of computers.
A. comparative
B. absolute
C. relative
D. natural
mynursytest.store
, DOWNLOAD THE Test Bank for Principles of Microeconomics 6th Edition Frank
5. If you have a comparative advantage in a particular task, then:
A. you are better at it than other people.
B. you give up more to accomplish that task than do others.
C. you give up less to accomplish that task than do others.
D. you have specialized in that task, while others have not.
6. Larry has a comparative advantage over his classmates in writing term papers if he:
A. can write term papers faster than his classmates.
B. has an absolute advantage in writing term papers.
C. always earns an A on his term papers.
D. has a lower opportunity cost of writing term papers than his classmates.
7. If a nation has the lowest opportunity cost of producing a good, that nation has a(n) ______ in the production of that good.
A. comparative advantage
B. absolute advantage
C. comparative advantage and an absolute advantage D. absolute advantage and possibly a comparative advantage.
8. Which of the following statements is true?
A. Absolute advantage implies comparative advantage.
B. Comparative advantage does not require absolute advantage.
C. Absolute advantage requires comparative advantage.
D. Comparative advantage requires absolute advantage.
9. If Jane can produce 3 pairs of shoes per hour, while Bob can produce 2, then ______ has a(n) ______ advantage in producing shoes.
A. Jane; absolute
B. Jane; comparative
C. Bob; absolute
D. Bob; comparative
10 . Refer to the table below. According to the table, Martha has the absolute advantage in :
mynursytest.store
, DOWNLOAD THE Test Bank for Principles of Microeconomics 6th Edition Frank
A. pies.
B. neither pies nor cakes.
C. cakes.
D. both pies and cakes.
11 . Refer to the table below. According to the table, Julia has the absolute advantage in :
A. pies.
B. neither pies nor cakes.
C. cakes.
D. both pies and cakes.
12 . Refer to the table below. Martha's opportunity cost of making of a pie is :
A. 3/4 of a cake.
B. 4/3 of a cake.
C. 8 cakes.
D. 80 cakes.
13 . Refer to the table below. Martha's opportunity cost of making a cake is :
mynursytest.store
, DOWNLOAD THE Test Bank for Principles of Microeconomics 6th Edition Frank
A. 3/4 of a pie.
B. 4/3 of a pie.
C. 6 pies.
D. 60 pies.
14 . Refer to the table below. Julia's opportunity cost of making a pie is :
A. 60 cakes
B. 6 cakes
C. 6/5 of a cake
D. 5/6 of a cake
15 . Refer to the table below. Julia's opportunity cost of making a cake is :
A. 60 cakes
mynursytest.store
