QUESTION 2 D E Tables Production Possibilities Schedule 1 Alternatives 4 B Consumer goods per period 1 Capital goods per period 30 28 2 24 3 18 4 10 F 5 0 (Ref 2-1 Table Production Possibilities Schedule 1) Use Table: Production Possibilities Schedule I. The opportunity cost of producing the third unit of consumer goods is units of capital goods. a. 6 b.2 c8 d. 4 QUESTION 4 Price S P X PU 0, O Quantity (Ref 6-8 Figure: Supply, Demand, and Equilibrium) Use Figure: Supply, Demand, and Equilibrium. In the figure, there will be an excess supply of the good at a price of P1. a. True b. False QUESTION 8 Table: Production Possibilities for Machinery and Petroleum Machinery (M) Petroleum (P) Countries (units) United States 80 40 Mexico 60 180 is (Ref 15-1 Table: Production Possibilities for Machinery and Petroleum) Use Table 15-1: Production Possibilities for Machinery and Petroleum. The opportunity cost of in the United States as (than) in Mexico. a. petroleum; less b.petroleum; more c. petroleum; the same d. machinery, the same QUESTION 14 E Table: Production Possibilities Schedule Alternatives 4 Consumer goods per period 0 1 Capital goods per period 30 28 2 24 3 18 4 10 F 5 0 (Ref 2-1 Table: Production Possibilities Schedule 1) Use Table Production Possibilities Schedule I. If the economy produces two units of consumer goods per period, it also can produce, at most, units of capital goods per period. a. 30 b.18 C 24 d. 28