AnswersFL-2106010-MJ Civics B-CROpportunity Cost

Opportunity Cost Answers

10 verified answers1 views
1
Free Preview

After much research and planning about what to do with a plot of land in the town of Hillview, city officials decide to construct a community garden. The project is a big success, but some community groups have concerns.

A
There are no programs set up in the garden for local children.
B
The community garden is not yet fully accessible to everyone.
C
The city has not chosen a name for the community garden.
D
The garden uses land that could support affordable housing.
2
Free Preview

Local government officials are reviewing the explicit costs for two proposed projects for the town’s main square. The proposed small stage for community events will cost $250,000 to build, while the proposed open-air art gallery will cost $300,000. These costs, however, are estimates. This means that

A
the officials made up the amounts without doing any research.
B
the community members may challenge the amounts for accuracy.
C
the projects might end up costing more or less than those amounts.
D
the officials can depend on the projects costing exactly those amounts.
3

When people make an economic choice, they

A
figure out what they need to do to pay their bills on time.
B
think about where they can borrow money that they need.
C
decide how to use their resources to fulfill a want or need.
D
determine how much money they need to earn at their job.
4

During her campaign for the US Senate, Candidate A complains that the enormous federal transportation budget takes money directly out of public school classrooms, which, consequentially, negatively affects the lives of children in the country.

A
There is still enough money available to provide the country’s children with an education.
B
There is not enough money to provide adequate funding for schools to educate children.
C
Public school teachers are in a better position to educate children than teachers in other countries.
D
Public school teachers can use limited funds in creative ways to educate children in the country.
5

When someone is making an economic decision, what is meant by the "long-term costs” of that decision?

A
what the person has to pay financially for what they want to have now
B
what the person regrets about their decision to purchase something now
C
what the person is giving up in the future to have what they want to have now
D
what the person must earn in the future to pay for what they want to have now
6

Government officials make economic decisions that affect transportation features including city streets, roads, bridges, train lines, and airports. These officials make choices that

A
impact everyone in the community equally.
B
must be voted on and approved by the public.
C
affect where things are built and whom they benefit.
D
have very little impact on the lives of everyday people.
7

Which term refers to government officials gathering detailed information on the advantages and disadvantages of a public policy decision?

A
budget review
B
project planning
C
opportunity costs
D
cost-benefit analysis
8

Review the decision tree showing Catalina’s choices.

Question illustration
A
She will have more time with her friends.
B
She will not be able to raise her grade point average.
C
She will not be able to volunteer at the animal shelter.
D
She will be able to do more interesting math.
9

City officials have surveyed members of the community about ways to honor a local activist who helped to create a city park 100 years ago. The majority of community members would like to construct a statue or plant a small garden. The next step is for city officials to examine what the community would be giving up now by choosing one of these options.

A
examining how attractive the designs are for each project.
B
asking members of the community which project they prefer.
C
looking at the explicit costs for each of the proposed projects.
D
talking to local reporters about writing stories about the project.
10

Willie got tickets to the premiere of a big action movie on Wednesday night and invited his friend Andre to go with him. Andre thought that it would be a lot of fun but he had a big project due at school on Thursday morning and needed to work on it. However, after some thought, Andre decided to accept Willie’s offer because he wanted to see the stars of the action movie at the premiere.

A
He does not enjoy the movie.
B
He receives a poor grade on his school project.
C
He does not meet the film stars.
D
He has extra time to work on his school project.

Did you find these answers helpful?

More from this Course

Quiz
10 verified answers

Measuring Economic Change

Quiz
10 verified answers

Globalization and International Trade

Instruction
2 verified answers

Instruction