AP (Advanced Placement) Macroeconomics: Questions 697 - 700 of 750

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Question 697

Appeared in Year: 2016 (NET)

Question

MCQ▾

Which of the following is a reason for the negative slope of the Production Possibility Curve?

Choices

Choice (5)Response

a.

Increasing opportunity costs

b.

The inverse relationship between the use of technology and the use of natural resources

c.

Resource specialisation

d.

Scarcity at any point of time due to limited amount of productive resources

e.

All of the above

Question 698

Appeared in Year: 2016 (NET)

Question

MCQ▾

Which of the following is the correct formula for measuring income elasticity of demand?

Choices

Choice (5)Response

a.

b.

c.

d.

e.

None of the above

Question 699

Appeared in Year: 2016 (NET)

Question

MCQ▾

Chicken and fish are substitutes. If the price of chicken increases, the demand for fish will

Choices

Choice (5)Response

a.

Not change but there will be movement along the demand curve for fish.

b.

Increase and the demand curve for fish will shift rightwards

c.

Increase or decrease but the demand curve for chicken will not change

d.

Decrease and the demand curve for fish will shift leftwards

e.

All of the above

Question 700

Appeared in Year: 2019 (NET)

Question

MCQ▾

Which one of the following does NOT determine the amount of years of schooling demanded by an individual to quality or modem job? (June)

Choices

Choice (5)Response

a.

Opportunity cost of schooling

b.

The wage or income differential

c.

The probability of success in finding modem sector employment

d.

Expansion of healthcare infrastructure in urban sector

e.

All of the above

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