Professional Documents
Culture Documents
DATES
4
OIL
10.
At point C above:
All resources are fully and efficiently employed.
Some resources are left idle.
All resources are working extra hours.
None of the above.
a.
b.
c.
d.
13.
14.
The opportunity cost of producing 3 more units of oil by
moving from point A to point D is:
a. 12 units of dates.
b. 18 units of dates.
c. 6 units of dates.
d. There is no opportunity cost involved.
15.
a.
b.
c.
d.
16.
The famous economist Sir Adam Smith, introduced the world to
the concept of:
a. Absolute Advantage.
b. Comparative Advantage.
c. Relative Advantage.
d. Production Advantage.
17.
The famous economist David Ricardo, introduced the world to
the concept of:
a. Absolute Advantage.
b. Comparative Advantage.
c. Relative Advantage.
d. Production Advantage.
18.
19.
Production combinations that are outside the production
possibilities frontier are ones that:
a. Can never be attainable, not matter the circumstances.
b. Are efficient but unattainable in the short run.
c. Could be attained in the long run by growth or free trade with other
countries, according to ones comparative advantage.
d. None of the above.
Note that the x-axis represents the quantities of juice and the y-axis
represents the quantities of cheese in each country.
20.
If each of Jordan and KSA use all their resources in the
production of juice:
a. Jordan will be able to produce 200 units and KSA will be able to
produce 300.
b. Jordan will be able to produce 400 units and KSA will be able to
produce 1200.
c. Jordan will be able to produce 900 units and KSA will be able to
produce 200.
d. Jordan will be able to produce 200 units and KSA will be able to
produce 900.
21.
22.
a.
b.
c.
d.
23.
are:
a.
b.
c.