ECON 102 Study Guide - Quiz Guide: Absolute Advantage, Opportunity Cost, Comparative Advantage
Lesson 02 Quiz
Due
Sep 10, 2017 at 11:59pm
Points
10
Questions
10
Available
until Sep 10, 2017 at 11:59pm
Time Limit
30 Minutes
Allowed Attempts
2
Instruc!ons
This quiz was locked Sep 10, 2017 at 11:59pm.
A!empt History
Attempt
Time
Score
KEPT
Attempt 2
16 minutes
6 out of 10
For each of the 12 lessons of the course, you are required to take a quiz. The quizzes serve multiple
purposes:
To assess your knowledge of the material. This is a minor aspect, though -- each quiz only counts for 2
points out of 100.
1.
To give you practice for the exams. The multiple choice questions for the exams are similar to those on
the quizzes.
2.
To enhance your learning of course materials by having you answer questions that explore the course
subject matter.
3.
Instructions:
You may take each lesson's quiz twice, and you will receive credit for the higher of the two grades if you
do so. Questions will be drawn at random from a pool of quiz questions, so each quiz for a given lesson
will be a bit different.
The course calendar spells out the due dates for each quiz.
When you are ready to take this quiz, click on the link below to begin. Once you begin the quiz you will
have 30 minutes to complete the 10 questions and submit your responses.
Once you begin, you must complete the quiz in one sitting.
The clock will start when you begin and will continue to run even if you go back to another page or log out
of Canvas. Please don't begin the quiz unless you have 30 minutes to complete it!
Once time has expired, your quiz will be automatically submitted, even if you have not answered all the
questions.
Should you encounter any problems in completing a quiz, please write and inform your instructor as soon as
possible.
Lesson 02 Quiz: [17FA] ECON 102, Sec 001: Microec Anly (W... https://psu.instructure.com/courses/1867658/quizzes/3255749?h...
1 of 10 4/11/18, 7:36 PM
Attempt
Time
Score
LATEST
Attempt 2
16 minutes
6 out of 10
Attempt 1
29 minutes
5 out of 10
Score for this attempt:
6
out of 10
Submitted Sep 10, 2017 at 2:31pm
This attempt took 16 minutes.
0
/ 1
pts
Question 1
Mark can produce 60 baseballs in a month and Katie can produce 42
baseballs in a month. Also, Mark can produce 40 bats in a month and Katie
can produce 30 bats in a month. What is Mark’s opportunity cost of producing
10 bats?
60 baseballs.
You Answered
You Answered
15 baseballs.
Correct Answer
Correct Answer
It would take Mark 1/4 month to produce 10 bats. In that time, Mark
could have produced 15 baseballs.
1
/ 1
pts
Question 2
Mark can produce 20 baseballs in a month and Katie can produce 25
baseballs in a month. Also, Mark can produce 10 bats in a month and Katie
can produce 15 bats in a month. What is Katie’s opportunity cost of producing
Lesson 02 Quiz: [17FA] ECON 102, Sec 001: Microec Anly (W... https://psu.instructure.com/courses/1867658/quizzes/3255749?h...
2 of 10 4/11/18, 7:36 PM
30 bats?
50 baseballs.
Correct!
Correct!
It would take Katie 2 months to produce 30 bats. In that time, Katie
could have produced 50 baseballs.
1
/ 1
pts
Question 3
Mark can produce 40 baseballs in a month and Katie can produce 30
baseballs in a month. Also, Mark can produce 10 bats in a month and Katie
can produce 5 bats in a month. ______________has the absolute advantage
in the production of bats, and _____________ has the comparative
advantage in the production of bats.
Mark; Mark
Correct!
Correct!
Lesson 02 Quiz: [17FA] ECON 102, Sec 001: Microec Anly (W... https://psu.instructure.com/courses/1867658/quizzes/3255749?h...
3 of 10 4/11/18, 7:36 PM
1
ECON 102 Full Course Notes
Verified Note
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Document Summary
For each of the 12 lessons of the course, you are required to take a quiz. This is a minor aspect, though -- each quiz only counts for 2 points out of 100. The multiple choice questions for the exams are similar to those on the quizzes. To enhance your learning of course materials by having you answer questions that explore the course subject matter. You may take each lesson"s quiz twice, and you will receive credit for the higher of the two grades if you do so. Questions will be drawn at random from a pool of quiz questions, so each quiz for a given lesson will be a bit different. The course calendar spells out the due dates for each quiz. When you are ready to take this quiz, click on the link below to begin. Once you begin the quiz you will have 30 minutes to complete the 10 questions and submit your responses.
