help with econ questions?

[Fer]

1. When the nations that comprise the organization of petroleum exporting countries (OPEC) restrict the supply of oil to increase their profits, the oil market:

A) achieves an efficient outcome because profits increase
B) achieves an equitable outcome because the nations with oil resources receive the profits commensurate with that resource.
C) fails because there is no longer an efficient allocation of resources.
D) fails because there is no longer an equitable allocation of resources.

2) Beth and Alice decide to trade services. Beth promises to do Alice's taxes, and in exchange, alice will create several spreadsheets for beth's household budget. this mutual agreement of trade will most likely:

A) be beneficial to both individuals
B) hurt both individuals
C) help beth, but hurt alice
D) help alice, but hurt beth.

3) Gains from trade exist for:
A) Individuals only
B) states only
C) countries only
D) individuals, states, and countries.

4)To encourage people to retire later, the government could:
A) lower social security benefits
B) raise the tax rate on older individuals
C) engage in a public service campaign explaining the value of these employees to the economy.
D) increase social security benefits

5) Mark and julie are going to sell brownies and cookies for their third annual fundraiser bake sale. in one day, mark can make 40 brownies or 20 cookies and julie can make 15 brownies or 15 cookies. based on this information, ________ has the absolute advantage in making brownies and ________ has the absolute advantage in making cookies.
A) Mark;Julie
B) Mark;Mark
C) Julie;Mark
D) Mark; neither mark nor julie

6) If farmer sam macdonald can produce 200lbs of cabbages and 0 pounds of potatoes or 0lbs of cabbages and 100lbs of potatoes and faces a linear production possibility frontier for his farm, the opportunity cost of producing an additional pound of cabbage is _____ pound(s) of potatoes.
A) 1/2
B) 2
C) 100
D) 200

7) Which of the following statements is true?
A) Very talented people may have a comparative advantage in everything they do.
B) Very untalented people may have a comparative advantage in something they do.
C) Very talented people may have a very low opportunity cost in most things they do.
D) Very untalented people may have a very low opportunity cost in most things they do.

8) Coworkers Yvonne and rodney are trying to finish cleaning up the store by washing dishes and sweeping the floors. to finish both tasks as quickly as possible they know that each of thems hould focus on just one task, but they dont know who should do what. to decide which coworker should wash dishes, yvonne and rodney should determine which one:

A) has the absolute advantage in dishwashing
B) has the comparative advantage in dishwashing
C) has the largest production possibility frontier in dishwashing
D) can complete the dishwashing in the least amount of time.

[Nancy]

1)c
2)a
3)d
4)c
5)b
6)a
7)a
8)b