Can anyone help please?

[baigh]

11) "Wants" as an economic concept includes
A) Both material and nonmaterial desires
B) Only the purchase of necessary basic goods
C) Only the desire for luxury goods
D) Only those goods that can be purchased with one's paycheck.

12) The concept of opportunity cost exists because
A) Goods have different prices and the value of services is hard to determine
B) Shortages can occur
C) There is always a more useful alternative to the choice we make
D) Scarcity exists

13) In the above figure, the opportunity cost of moving from producing 75 guitars and 25 ukuleles to producing 50 guitars and 50 ukuleles is
A) 25 ukuleles
B) 50 guitars
C) 100 guitars
D) 25 guitars.

14) If the production possibilities curve is a downward sloping straight line, then
A) Resources are highly specialized, making it difficult to use them for alternative uses
B) Technological change has increased
C) Production is efficient only when producing at the mid-point
D) All resources must be perfectly adaptable for alternative uses.

15) The president of the United States promises that the nation's economy will simultaneously produce more defense goods without any decreases in the production of other goods. Under which of the following conditions could such a promise be valid?

A) If the United States were producing at a point on its PPC
B) If the United States were producing inside its PPC
C) If the United States were producing to the right of its PPC
D) None of the above; the PPC must shift to the right.

16) Phil Mickelson, a professional golfer, pays a garage mechanic to change the motor oil of his car even though he can do the work himself. Which of the following best explains why Phil does not change the oil himself?

A) He has an absolute advantage in changing oil
B) He has a comparative advantage in changing oil
C) There is no opportunity cost for the garage mechanic to change oil
D) The opportunity cost of changing oil is higher for Phil than for the garage mechanic.

17) In economics, international trade is based on the existence of
A) Absolute advantage between countries
B) Relative advantage between countries
C) Comparative advantage between countries
D) Output advantage between countries.

18) Economists argue that unhindered international trade leads to an efficient outcome. What is meant by "an efficient outcome" in this context?

A) An outcome in which wages are roughly equal around the world
B) An outcome in which the standard of living is roughly equal around the world
C) An outcome in which an individual can choose to specialize in a certain line of work and be certain that he or she can make a living at that until retirement
D) An outcome in which resources are devoted to their most efficient use.

19) Market demand is
A) The total quantities demanded of all consumers of a particular item at given prices
B) A movement along the demand curve in response to the market
C) Total equilibrium demand for the market
D) The demand for and supply of a good or service.

20) Assume all prices increase by 10% in the year but the total sales of caviar remain constant. This
A) Would be a violation of the law of demand since less caviar should be purchased at a higher price
B) Would be a violation of the law of demand since more caviar should have been purchased with higher incomes
C) Would not be a violation of the law of demand, since the relative price of caviar did not change
D) Would not be a violation of the law of demand, since the law of demand does not apply to expensive goods like caviar.

21) The price of a commodity in terms of another commodity is
A) The law of demand
B) A substitute
C) The money price
D) The relative price.