Q1.Figure 1.3What change would occur if the economy moves from point C to point B in Figure 1.3? a. Resources previously devoted to producing consumer electronics would be used to produce housewares. b. Previously unemployed resources would be used to produce housewares. c. Previously unemployed resources would be used to produce consumer electronics. d. Resources previously devoted to producing housewares would be used to produce consumer electronics.Q2. A rightward shift of the production possibilities curve represents economic growth. a. true b. falseQ3.Figure 1.3If an economy is producing at point A in Figure 1.3, a. it is producing 3300 units of housewares and 3300 units of consumer electronics. b. it is producing 3300 units of housewares and 1800 units of consumer electronics. c. it is producing 1800 units of housewares and 1800 units of consumer electronics. d. it is producing 1800 units of housewares and 3300 units of consumer electronics.Q4. The shape of the production possibilities curve reveals the degree of income equality in an economy. a. true b. falseQ5. The slope of the production possibilities curves tells you a. the quantity of all inputs available for productive uses. b. the length of time required to switch between two different economic activities. c. how much of one good must be sacrificed in order to produce more of the other. d. the size of the labor force.Q6. In economics, all the things that people would consume if they had unlimited income are a. needs. b. aggregates. c. outputs. d. wants.Q7. Clean air is a scarce resource. a. true b. falseQ8. In accepting a job, you incur an opportunity cost. a. true b. falseQ9. If you can earn $10 an hour as a retail clerk, $12 an hour as an office assistant, $16 an hour as a house painter, and $20 an hour repairing bicycles, what is your opportunity cost of