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Quiz 1.

1. Go to http://www.iaea.org/programmes/ne/nenp/npes/index-4.htm. Which country had the fewest nuclear power plants in operation in 1997?
A. Canada
B. Brazil
C. Korea RP
D. Ukraine
E. Germany

2. A production possibilities frontier can be used to demonstrate each of the following economic concepts EXCEPT:
A. economic growth.
B. trade-offs between two different goods.
C. the attainment of socioeconomic goals.
D. increasing costs.
E. opportunity costs.

3. A point lying outside a production possibilities frontier:
A. can never be attained.
B. can be attained with improved technology.
C. would represent underemployed resources.
D. can be reached if more people want to buy the products.
E. can only be attained by employing more resources.

4. Which type of economic system must contend with the economic problems of "what, how, and who?"
A. market economies
B. command economies
C. traditional economies
D. communist economies
E. all economies

5. Which of the following best describes increasing opportunity costs?
A. The price of a good increases as more of it is produced.
B. A trade ratio always equals one.
C. When more resources are devoted to the production of a good, the opportunity cost of the good increases.
D. The less resources are specialized, the less they cost.
E. The more complex a product, the more it costs to produce it.