micro-economics-MCQs-and-Short-Answer-questions-economics-homework-help

I post few questions from the PDF i uploaded and there are total of 66 questions (3 short answers 63mcq). Please take a look and send me bids if you are confident.

Assignment 1 Part I．Multiple-choice questions 1. Which of the following statements could be used to explain an outward shift in the productionpossibility frontier? a. There is an increase in technology. b. The population of the country increases. c. New natural resources are discovered under the ocean. d. All of the above apply. 2. Which of the statements below does NOT apply to the production-possibility frontier, or PPF? a. The PPF is closely related to the concept of scarcity. b. Quantities of inputs are measured along the axes of the PPF. c. The PPF may shift over time. d. Movements along the PPF may occur as the allocation of resources changes. e. Technology may change the shape of the PPF. 3. When Samuelson and Nordhaus write that “goods are limited while wants seem limitless,” they mean that: a. people are basically greedy and not willing to share. b. the government needs to redistribute output. c. current methods of production are inefficient. d. there is no simple solution to the basic economic problems of scarcity and unlimited human wants. 4. The three fundamental questions of economic organization are: a. closely related to the concept of scarcity. b. not nearly as important today as they were at the dawn of civilization. c. what, how, and why. d. land, labor, and capital. 5. Which of the following statements applies to a mixed economy? a. There is confusion and a lack of organization. b. The allocation of resources changes from production period to production period. c. There are no real examples of truly mixed economies. d. Mixed economies include aspects of both market and command economies. 6. Which of the statements below is a reason why an economy might produce a level of output that is beneath its production-possibility frontier? a. The available resources are not equally suited to the production of both outputs. b. The available body of technological knowledge is not being fully utilized. c. Society prefers one product over the other. d. There are no frontiers left anymore.

 

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