Don't explain simply answer the multiple-choice questions
Determine whether the following statement would be classified as positive economics, normative economics, or the art of economics: "The government should enforce minimum prices for beers and lagers sold in supermarkets" Select one: A a. Positive economics A. b. Normative economics ('3 c. The art of economics A. d. All of the above If the marginal cost of joining a club on campus is $10 to you, and the marginal benefit is $9, you should: Select one: a. Become president of the club O b. Join the club c. Not join the club O d. There is not enough information to determineRefer to the graph below. Which movement would result in a decrease in efficiency? Good Y A B E D F Good X Select one: a. From A to B b. From D to E c. From D to C O d. From C to BSuppose you go to the phone store and buy a new phone for $200, and sign a contract that will cost you $50 per month to use the phone. What is the marginal cost of using this phone? Select one: A a. The $200 spent on the phone A b. The $50 you have to spend each month .A c. The total cost, $250 .A d. The marginal cost cannot be determined from the given information The opportunity cost of buying a new computer (valued at $1,000) is: Select one: Q a. There is no opportunity cost 0 b. The $1 ,000 spent on the computer :3 c. The ability to study and complete your schoolwork on the new computer 0 d. The new clothes and textbooks you would have bought instead Which of the following is an example of a transferable comparative advantage? Select one: ('3 a. Climate C) b. Natural resources ('3 c. Wages C) d. Location You've purchased a car for $20,000 and now are deciding whether to have a moon roof installed for $800 and a security system installed for $200. The marginal cost of adding both the moon roof and the security system is: Select one: Q a.$21,200. :3 b. $20,000. 0 c. $800. (:3. d. $1,000. Refer to the graph below. As you move from point A to point B: Good Y Y2 C B A YO X0 X1 X2 Good X Select one: O a. production efficiency is increased because we have more of good X. O b. production efficiency is decreased because we have less of good Y. O c. production efficiency is decreased because we are no longer on the production possibility curve. O d. the change in efficiency is unclear.The text argues that the United States has had a comparative advantage in goods and services that: Select one: C a. require creativity and innovation. C b. are artistic and well crafted. (C c. are mass-produced. ll / Q d. are luxury goods. A nation's comparative advantage in the production of an item is determined by: Select one: .A a. which country has already specialized in the production of the item. .A b. the total and marginal costs of producing the item. if\") c. the opportunity cost of producing the item relative to a trading partner's opportunity cost. .A d. wage rates and other input costs
