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An economy that is producing on the production possibility frontier at some point other than the output of efficient allocation is Part 2 A. inefficient, as that combination of goods could be produced at a lower cost if more efficient technology were employed. B. efficient, as the economy is producing goods at the lowest possible cost. C. inefficient, as the combination of goods and services produced is not what people want. D. efficient, as it is on the production possibility frontier.

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A statistics professor warns his class that his second exam is always harder than the first. He tell the class that students always score 10 points worse on the second exam compared to their score on the first exam. Sketch a possible scatter plot of students first exam scores as the explanatory variable and their second exam score as the response variable. Explain the shape of your scatterplot and discuss any correlation you know exists.

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If you had to run an experiment what type of experimental design would you use what its advantages and disadvantages how would you overcome the disadvantages or show you considered them can you provide an example if it helps your explanation

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Which statement is an insight implied by the theory of comparative advantage? Gains from trade are still possible even if one country is better at producing everything. A larger country trading with a smaller country always enjoys smaller gains from trade. If one country has a lower opportunity cost for every good, it has no incentive to engage in trade. Only countries whose currencies are not of equal value can gain from trade.

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jonathan s.