Benefit of Economic Growth Case Study Essay
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Benefit of Economic Growth Case Study Essay
A bowed out PPF reflects which of the following ideas? I. Increasing opportunity cost bioresources
A bowed out PPF reflects which of the following ideas?
i.increasing opportunity cost
ii.resources are not equally productive in all activities
iii.prices of goods increase over time
i only i and iii ii and iii i and ii 1 points
QUESTION 2
With no international trade, a country ________ consume at a point outside of its PPF; with international trade, a country ________ consume at a point outside of its PPF.
can; cannot cannot; can cannot; cannot can; can 1 points
QUESTION 3
If the production possibilities frontier between two goods is a straight line, then the
line does not qualify as a production possibilities frontier because the unattainable production points are too close to the inefficient production points. opportunity cost is not a ratio. increasing opportunity costs. resources are equally productive in both goods. 1 points
QUESTION 4
As an economy produces more of one of the goods on a bowed out production possibilities frontier, what happens to the opportunity cost of producing the good?
It might increase, decrease, or remain constant depending on how much people value the additional units of the good. It decreases. It increases. It remains constant. 1 points
QUESTION 5
“Comparative advantage” is defined as a situation in which one person can produce
more of a good than another person. a good for a lower dollar cost than another person. a good for a lower opportunity cost than another person. more of all goods than another person. 1 points
QUESTION 6
When a production possibilities frontier is bowed outward, as more of one good is produced, its opportunity cost
increases. decreases. might increase, decrease, or remain constant depending on how much people value the additional units of the good. remains constant. 1 points
QUESTION 7
A bowed out production possibility frontier shows that the
opportunity cost relationship is linear. opportunity cost of a good is constant as more of the good is produced. opportunity cost of a good increases as more of the good is produced. opportunity cost of a good decreases as more of the good is produced. 1 points
QUESTION 8
Which of the following statements is correct?
The production possibilities frontier shows that there are no limits to production. Any point on or within the PPF is production efficient. If capital is idle, the economy is producing at its full potential. A tradeoff is a limit that forces an exchange or a substitution of one thing for something else. 1 points
QUESTION 9
A major earthquake occurs in the central part of the United States. What impact would this have on the nation’s production possibilities frontier and why?
A tradeoff would occur to replace the resources and goods destroyed. It would shift inward because some of the nation’s resources, such as capital and labor, would be destroyed. It would shift outward because unemployment would be reduced. Nothing would happen because the nation would still have the same capabilities. 1 points
QUESTION 10
When a nation is producing on its production possibilities frontier, if more resources are used to produce one good, then the production of other goods
must increase. must decrease. must remain the same. must change but they might increase or decrease. 1 points
QUESTION 11
Moving along a country’s PPF, a reason opportunity costs increase is that
unemployment increases as a country produces more and more of one good. unemployment decreases as a country produces more and more of one good. some resources are better suited for producing one good rather than the other. technology declines as a country produces more and more of one good. 1 points
QUESTION 12
A reason the production possibilities frontier exists is
scarcity of resources and unlimited technology. unemployment. scarcity of resources. unlimited resources and technology. 1 points
QUESTION 13
Moving from one point to another on a production possibilities frontier implies
increasing the production of one good and decreasing the production of another. increasing the production of both goods. decreasing the production of both goods. holding the production levels of both goods constant. 1 points
QUESTION 14
Specialization and trade make a country better off because with trade the country can consume at a point
outside its production possibilities frontier. on its trading partner’s production possibilities frontier. inside its production possibilities frontier. on its production possibilities frontier. 1 points
QUESTION 15
The production possibilities frontier is the
boundary between the combinations of goods and services that can be produced and the combinations that cannot be produced when technology is changing. minimum output that can be produced when resources are used inefficiently. boundary between the combinations of goods and services that can be produced and the combinations that cannot be produced, given the available factors of production and the state of technology. maximum output that can be produced at an opportunity cost of zero. 1 points
QUESTION 16
The opportunity cost of economic growth is ________ and the benefit of economic growth is ________.
decreased current consumption; decreased future consumption decreased current consumption; increased future consumption increased current consumption; increased future consumption increased current consumption; decreased future consumption 1 points
QUESTION 17
In terms of a nation’s production possibilities frontier, what impact does international trade have?
International trade shifts the nation’s production possibilities frontier outward. International trade shifts the production possibilities frontier outward for the goods that are exported and inward for the goods that are imported. International trade shifts the nation’s production possibilities frontier inward. International trade allows the nation to consume at a point outside its production possibilities frontier. 1 points
QUESTION 18
The production possibilities frontier illustrates the
goods and services that people want. limits to people’s wants. resources the economy possess, but not its level of technology. maximum combinations of goods and services that can be produced. 1 points
QUESTION 19
As we move along the production possibilities frontier,
the possibilities of tradeoffs diminish. the production of one good increases as the production of the other good decreases. more of both goods can be produced. a tradeoff is not possible because nations need all goods. 1 points
QUESTION 20
What is the opportunity cost of economic growth?
Eliminate scarcity Land. Capital goods. Consumption goods. 1 points
QUESTION 21
Which of the following statements is correct?
i.As the economy grows, the opportunity costs of economic growth decrease.
ii.Economic growth has no opportunity cost.
iii.The opportunity cost of economic growth is current consumption forgone.
ii only iii only i only i and iii 1 points
QUESTION 22
Economic growth depends upon which of the following?
- Increasing the quantity of labor.
- Lowering the prices of goods and services.
iii. Advancing technology.
ii only. i only. i and iii. iii only. 1 points
QUESTION 23
When drawing a production possibilities frontier, which of the following is held constant?
the amount of money in the economy the prices of goods and services the quantity of the goods and services that are produced the available factors of production and the state of technology 1 points
QUESTION 24
To increase its economic growth, a nation should
encourage spending on goods and services. increase current consumption. encourage education because that increases the quality of labor. limit the number of people in college because they produce nothing. 1 points
QUESTION 25
The opportunity cost of one more slice of pizza in terms of sodas is the
number of pizza slices we have to give up in order to get one extra soda. total number of sodas that we have divided by the total number of pizza slices that we have. total number of pizza slices that we have divided by the total number of sodas that we have. number of sodas we have to give up in order to get one extra pizza slice. 1 points
A bowed out PPF reflects which of the following ideas? I. Increasing opportunity cost bioresources
A bowed out PPF reflects which of the following ideas?
i.increasing opportunity cost
ii.resources are not equally productive in all activities
iii.prices of goods increase over time
i only i and iii ii and iii i and ii 1 points
QUESTION 2
With no international trade, a country ________ consume at a point outside of its PPF; with international trade, a country ________ consume at a point outside of its PPF.
can; cannot cannot; can cannot; cannot can; can 1 points
QUESTION 3
If the production possibilities frontier between two goods is a straight line, then the
line does not qualify as a production possibilities frontier because the unattainable production points are too close to the inefficient production points. opportunity cost is not a ratio. increasing opportunity costs. resources are equally productive in both goods. 1 points
QUESTION 4
As an economy produces more of one of the goods on a bowed out production possibilities frontier, what happens to the opportunity cost of producing the good?
It might increase, decrease, or remain constant depending on how much people value the additional units of the good. It decreases. It increases. It remains constant. 1 points
QUESTION 5
“Comparative advantage” is defined as a situation in which one person can produce
more of a good than another person. a good for a lower dollar cost than another person. a good for a lower opportunity cost than another person. more of all goods than another person. 1 points
QUESTION 6
When a production possibilities frontier is bowed outward, as more of one good is produced, its opportunity cost
increases. decreases. might increase, decrease, or remain constant depending on how much people value the additional units of the good. remains constant. 1 points
QUESTION 7
A bowed out production possibility frontier shows that the
opportunity cost relationship is linear. opportunity cost of a good is constant as more of the good is produced. opportunity cost of a good increases as more of the good is produced. opportunity cost of a good decreases as more of the good is produced. 1 points
QUESTION 8
Which of the following statements is correct?
The production possibilities frontier shows that there are no limits to production. Any point on or within the PPF is production efficient. If capital is idle, the economy is producing at its full potential. A tradeoff is a limit that forces an exchange or a substitution of one thing for something else. 1 points
QUESTION 9
A major earthquake occurs in the central part of the United States. What impact would this have on the nation’s production possibilities frontier and why?
A tradeoff would occur to replace the resources and goods destroyed. It would shift inward because some of the nation’s resources, such as capital and labor, would be destroyed. It would shift outward because unemployment would be reduced. Nothing would happen because the nation would still have the same capabilities. 1 points
QUESTION 10
When a nation is producing on its production possibilities frontier, if more resources are used to produce one good, then the production of other goods
must increase. must decrease. must remain the same. must change but they might increase or decrease. 1 points
QUESTION 11
Moving along a country’s PPF, a reason opportunity costs increase is that
unemployment increases as a country produces more and more of one good. unemployment decreases as a country produces more and more of one good. some resources are better suited for producing one good rather than the other. technology declines as a country produces more and more of one good. 1 points
QUESTION 12
A reason the production possibilities frontier exists is
scarcity of resources and unlimited technology. unemployment. scarcity of resources. unlimited resources and technology. 1 points
QUESTION 13
Moving from one point to another on a production possibilities frontier implies
increasing the production of one good and decreasing the production of another. increasing the production of both goods. decreasing the production of both goods. holding the production levels of both goods constant. 1 points
QUESTION 14
Specialization and trade make a country better off because with trade the country can consume at a point
outside its production possibilities frontier. on its trading partner’s production possibilities frontier. inside its production possibilities frontier. on its production possibilities frontier. 1 points
QUESTION 15
The production possibilities frontier is the
boundary between the combinations of goods and services that can be produced and the combinations that cannot be produced when technology is changing. minimum output that can be produced when resources are used inefficiently. boundary between the combinations of goods and services that can be produced and the combinations that cannot be produced, given the available factors of production and the state of technology. maximum output that can be produced at an opportunity cost of zero. 1 points
QUESTION 16
The opportunity cost of economic growth is ________ and the benefit of economic growth is ________.
decreased current consumption; decreased future consumption decreased current consumption; increased future consumption increased current consumption; increased future consumption increased current consumption; decreased future consumption 1 points
QUESTION 17
In terms of a nation’s production possibilities frontier, what impact does international trade have?
International trade shifts the nation’s production possibilities frontier outward. International trade shifts the production possibilities frontier outward for the goods that are exported and inward for the goods that are imported. International trade shifts the nation’s production possibilities frontier inward. International trade allows the nation to consume at a point outside its production possibilities frontier. 1 points
QUESTION 18
The production possibilities frontier illustrates the
goods and services that people want. limits to people’s wants. resources the economy possess, but not its level of technology. maximum combinations of goods and services that can be produced. 1 points
QUESTION 19
As we move along the production possibilities frontier,
the possibilities of tradeoffs diminish. the production of one good increases as the production of the other good decreases. more of both goods can be produced. a tradeoff is not possible because nations need all goods. 1 points
QUESTION 20
What is the opportunity cost of economic growth?
Eliminate scarcity Land. Capital goods. Consumption goods. 1 points
QUESTION 21
Which of the following statements is correct?
i.As the economy grows, the opportunity costs of economic growth decrease.
ii.Economic growth has no opportunity cost.
iii.The opportunity cost of economic growth is current consumption forgone.
ii only iii only i only i and iii 1 points
QUESTION 22
Economic growth depends upon which of the following?
- Increasing the quantity of labor.
- Lowering the prices of goods and services.
iii. Advancing technology.
ii only. i only. i and iii. iii only. 1 points
QUESTION 23
When drawing a production possibilities frontier, which of the following is held constant?
the amount of money in the economy the prices of goods and services the quantity of the goods and services that are produced the available factors of production and the state of technology 1 points
QUESTION 24
To increase its economic growth, a nation should
encourage spending on goods and services. increase current consumption. encourage education because that increases the quality of labor. limit the number of people in college because they produce nothing. 1 points
QUESTION 25
The opportunity cost of one more slice of pizza in terms of sodas is the
number of pizza slices we have to give up in order to get one extra soda. total number of sodas that we have divided by the total number of pizza slices that we have. total number of pizza slices that we have divided by the total number of sodas that we have. number of sodas we have to give up in order to get one extra pizza slice. 1 points
A bowed out PPF reflects which of the following ideas? I. Increasing opportunity cost bioresources
A bowed out PPF reflects which of the following ideas?
i.increasing opportunity cost
ii.resources are not equally productive in all activities
iii.prices of goods increase over time
i only i and iii ii and iii i and ii 1 points
QUESTION 2
With no international trade, a country ________ consume at a point outside of its PPF; with international trade, a country ________ consume at a point outside of its PPF.
can; cannot cannot; can cannot; cannot can; can 1 points
QUESTION 3
If the production possibilities frontier between two goods is a straight line, then the
line does not qualify as a production possibilities frontier because the unattainable production points are too close to the inefficient production points. opportunity cost is not a ratio. increasing opportunity costs. resources are equally productive in both goods. 1 points
QUESTION 4
As an economy produces more of one of the goods on a bowed out production possibilities frontier, what happens to the opportunity cost of producing the good?
It might increase, decrease, or remain constant depending on how much people value the additional units of the good. It decreases. It increases. It remains constant. 1 points
QUESTION 5
“Comparative advantage” is defined as a situation in which one person can produce
more of a good than another person. a good for a lower dollar cost than another person. a good for a lower opportunity cost than another person. more of all goods than another person. 1 points
QUESTION 6
When a production possibilities frontier is bowed outward, as more of one good is produced, its opportunity cost
increases. decreases. might increase, decrease, or remain constant depending on how much people value the additional units of the good. remains constant. 1 points
QUESTION 7
A bowed out production possibility frontier shows that the
opportunity cost relationship is linear. opportunity cost of a good is constant as more of the good is produced. opportunity cost of a good increases as more of the good is produced. opportunity cost of a good decreases as more of the good is produced. 1 points
QUESTION 8
Which of the following statements is correct?
The production possibilities frontier shows that there are no limits to production. Any point on or within the PPF is production efficient. If capital is idle, the economy is producing at its full potential. A tradeoff is a limit that forces an exchange or a substitution of one thing for something else. 1 points
QUESTION 9
A major earthquake occurs in the central part of the United States. What impact would this have on the nation’s production possibilities frontier and why?
A tradeoff would occur to replace the resources and goods destroyed. It would shift inward because some of the nation’s resources, such as capital and labor, would be destroyed. It would shift outward because unemployment would be reduced. Nothing would happen because the nation would still have the same capabilities. 1 points
QUESTION 10
When a nation is producing on its production possibilities frontier, if more resources are used to produce one good, then the production of other goods
must increase. must decrease. must remain the same. must change but they might increase or decrease. 1 points
QUESTION 11
Moving along a country’s PPF, a reason opportunity costs increase is that
unemployment increases as a country produces more and more of one good. unemployment decreases as a country produces more and more of one good. some resources are better suited for producing one good rather than the other. technology declines as a country produces more and more of one good. 1 points
QUESTION 12
A reason the production possibilities frontier exists is
scarcity of resources and unlimited technology. unemployment. scarcity of resources. unlimited resources and technology. 1 points
QUESTION 13
Moving from one point to another on a production possibilities frontier implies
increasing the production of one good and decreasing the production of another. increasing the production of both goods. decreasing the production of both goods. holding the production levels of both goods constant. 1 points
QUESTION 14
Specialization and trade make a country better off because with trade the country can consume at a point
outside its production possibilities frontier. on its trading partner’s production possibilities frontier. inside its production possibilities frontier. on its production possibilities frontier. 1 points
QUESTION 15
The production possibilities frontier is the
boundary between the combinations of goods and services that can be produced and the combinations that cannot be produced when technology is changing. minimum output that can be produced when resources are used inefficiently. boundary between the combinations of goods and services that can be produced and the combinations that cannot be produced, given the available factors of production and the state of technology. maximum output that can be produced at an opportunity cost of zero. 1 points
QUESTION 16
The opportunity cost of economic growth is ________ and the benefit of economic growth is ________.
decreased current consumption; decreased future consumption decreased current consumption; increased future consumption increased current consumption; increased future consumption increased current consumption; decreased future consumption 1 points
QUESTION 17
In terms of a nation’s production possibilities frontier, what impact does international trade have?
International trade shifts the nation’s production possibilities frontier outward. International trade shifts the production possibilities frontier outward for the goods that are exported and inward for the goods that are imported. International trade shifts the nation’s production possibilities frontier inward. International trade allows the nation to consume at a point outside its production possibilities frontier. 1 points
QUESTION 18
The production possibilities frontier illustrates the
goods and services that people want. limits to people’s wants. resources the economy possess, but not its level of technology. maximum combinations of goods and services that can be produced. 1 points
QUESTION 19
As we move along the production possibilities frontier,
the possibilities of tradeoffs diminish. the production of one good increases as the production of the other good decreases. more of both goods can be produced. a tradeoff is not possible because nations need all goods. 1 points
QUESTION 20
What is the opportunity cost of economic growth?
Eliminate scarcity Land. Capital goods. Consumption goods. 1 points
QUESTION 21
Which of the following statements is correct?
i.As the economy grows, the opportunity costs of economic growth decrease.
ii.Economic growth has no opportunity cost.
iii.The opportunity cost of economic growth is current consumption forgone.
ii only iii only i only i and iii 1 points
QUESTION 22
Economic growth depends upon which of the following?
- Increasing the quantity of labor.
- Lowering the prices of goods and services.
iii. Advancing technology.
ii only. i only. i and iii. iii only. 1 points
QUESTION 23
When drawing a production possibilities frontier, which of the following is held constant?
the amount of money in the economy the prices of goods and services the quantity of the goods and services that are produced the available factors of production and the state of technology 1 points
QUESTION 24
To increase its economic growth, a nation should
encourage spending on goods and services. increase current consumption. encourage education because that increases the quality of labor. limit the number of people in college because they produce nothing. 1 points
QUESTION 25
The opportunity cost of one more slice of pizza in terms of sodas is the
number of pizza slices we have to give up in order to get one extra soda. total number of sodas that we have divided by the total number of pizza slices that we have. total number of pizza slices that we have divided by the total number of sodas that we have. number of sodas we have to give up in order to get one extra pizza slice. 1 points
Benefit of Economic Growth Case Study Essay
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
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