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ECS1501Assessment 2
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Exam of 11 pages for the course ecs15 at ecs15 (ECS1501Assessment 2)
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1. ECS1501-23-S22. Assessments
3. Assessment 2
QUIZ
Assessment 2
Open course index
Open block drawer
Started on Monday, 14 August 2023, 1:28 PM
State Finished
Completed on Monday, 14 August 2023, 1:39 PM
Time taken 10 mins 46 secs
Marks 17.00/20.00
Grade 85.00 out of 100.00
Question 1
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I confirm
that this assessment will be my own individual work;
that I will not communicate with anyone else in any way during the completion of this assessment;
that I will not cheat in any way in completing and submitting this assessment.
I confirm.
I do not confirm.
Question 2
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Capital accumulation
shifts the production possibilities curve inward.
makes the production possibilities curve steeper.
, shifts the production possibilities curve outward.
has no impact on the production possibilities curve.
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Capital accumulation positively impacts the PPC by expanding the economy's production possibilities
resulting in an outward shift of the curve. This shift represents an economy's ability to produce more
goods and services, ultimately contributing to its growth and prosperity.
Question 3
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A society that is producing on its production possibilities curve is
producing too much output.
not being technologically efficient.
fully utilizing all of its productive resources.
not utilizing all of its resources.
Feedback
A society that is producing on its production possibilities curve (PPC) is operating at an efficient
allocation of resources.
Being on the PPC implies that the society is efficiently allocating its resources and is making the most
of its production capabilities. If society were to move away from the PPC, either inside or outside the
curve, it would indicate that resources are not being used efficiently (inside) or that the current level
of resources and technology cannot support that level of production (outside).
Question 4
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An increase in the nation's capital stock will
move the nation from producing within the PPC to producing at a point closer to the PPC.
cause a movement along the PPC upward and leftward.
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