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Inputs, Outputs, PPC Flashcards | StudBud
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Inputs, Outputs, PPC
Inputs, Outputs, PPC
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Questions
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Answers
1
On this PPC, which point represents an
inefficient
use of resources with limited outputs?
Y
A
E
X
2
T/F: Inputs must increase in order for outputs to increase.
True
False
3
Which of the following is true regarding
Government Regulations and Markets?
Deregulation benefits everyone; regulation benefits only producers.
Regulation benefits producers while deregulation benefits consumers.
Both regulation and deregulation can provide benefits to consumers.
Regulation benefits everyone; deregulation benefits only consumers.
4
On this PPC, which point represents an
efficient
use of resources and maximized output?
X
C
Y
R
5
Which of the following historical figures is considered to be the "Father" of Economic Theory?
Thomas Jefferson
Adam Smith
Charles Darwin
John Locke
6
Which of the following would definitely cause an individual's PPC to shift to the right?
Cathy gets a new job.
Cathy begins to stay one hour later at work each day.
Cathy earns a new college degree.
Cathy stays later at work and gets more done when the office is silent.
7
Consider the following: Which variable would not be considered an
Input
?
An assembly line
Raw Materials
Labor
The finished product
8
On this PPC, which point represents a theoretical, future level of output?
D
B
X
Y
9
Definition :
Which of the following describes how
efficiently inputs, such as labor and capital, yield an outcome?
input
productivity
loss
capital investment
10
What impact does government regulation have on the
outputs
in a market?
Command economies limit output.
Regulations add more steps to production.
Regulations impact output by limiting profits.
Regulations cost money to implement.
