Use the above table. Assuming constant opportunity costs, the opportunity cost of producing cookies in country Alpha is ________, and the opportunity cost of producing cookies in country Beta is ________
A) 0.33 ton of coffee; 2 tons of coffee
B) 3 tons of coffee; 0.5 ton of coffee
C) 0.375 ton of cookies; 2.25 tons of coffee
D) 2.67 tons of coffee; 0.44 ton of cookies
B
You might also like to view...
An increase in the price level causes an increase in money demand because
a. people need more money to purchase the same level of goods and services. b. changes in the price level have no effect on money demand. c. people have unlimited wants. d. people need less money to purchase the same level of goods and services.
If net interest and net transfers are zero, and a country's exports exceed its imports, the country definitely has ________
A) a current account surplus B) a current account deficit C) a capital and financial account surplus D) an official settlements account surplus
A physician's knowledge and skills are referred to by economists as
a. human capital b. labor c. physical capital d. entrepreneurship e. intellectual raw materials
Accounting profits minus normal profits equal ____________________.
Fill in the blank(s) with the appropriate word(s).