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ECON 312 FINAL EXAM LATEST

ECON 312 FINAL EXAM LATEST

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ECON 312 FINAL EXAM LATEST

1. (TCO 1) When a state government chooses to build more roads, the required resources are no longer available for spending on public education.  This dilemma illustrates the concept of(Points : 4)

 production expenses.

 unemployment issues.

 unintended consequences.

 opportunity cost.

 

2. (TCO1) Which of the following is considered to be an entrepreneur? (Points : 4)

 Self-employed person

 MBA graduate hired by a firm to be its CEO

 Production-line worker

 Customer of a firm

 

3. (TCO1) A point on the production possibilities curve is (Points : 4)

 attainable and resources are fully employed.

 attainable, but resources are unemployed.

 unattainable, but resources are unemployed.

 unattainable and resources are fully employed.

 

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