ECON 1010 Study Guide - Midterm Guide: Opportunity Cost, Resource Depletion, Marginal Utility
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Instructions: this exam consists of 40 multiple choice questions. Ansker key: answers in black are correct, in red are incorrect. : when a farmer decides to harvest tomatoes using machines instead of migrant workers, the, ___a___ farmer is answering the ________ question, "how, "who, "where, "when, "what" : the fact that a hockey star earns million a year while a teacher earns ,000 annually is an, _____d_ example of an economy facing the ________ question. : "what, "when, "how, "for whom, "where, when the government of alberta chooses to build more roads, the required resources are no, __a____ longer available to provide better health care facilities. : a production possibilities frontier will shift outward for all of the following, ___e___ Reasons except: an increase in the stock of capital, a technological improvement, opportunity cost is increasing, an increase in the labour force, none of the above. Use the information below to answer the following questions.
