The following graph shows the production possibilities curve for the economy with only two members, Silvia and Art. Silvia can produce either 50 pounds of beef or 2 computers per week, and Art can produce 100 pounds of beef or 1 computer per week. Both of them work 40 weeks per year.
How much of each good is produced if each worker fully specializes according to comparative advantage?
A. 6,000 pounds of beef and 160 computers
B. 6,000 pounds of beef and 120 computers
C. 4,000 pounds of beef and 80 computers
D. 8,000 pounds of beef and 120 computers
Answer: C
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What will be an ideal response?
The economic expansion that began in 1991
a. lasted approximately five years. b. lasted approximately twelve years. c. lasted approximately nine years. d. was the longest expansion in U.S. history. e. was the second longest expansion in U.S. history.
A line is parallel to the vertical axis. The slope of the line is
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Based on historical data, which of the following tended to be most unstable over time?
A. the average propensity to save B. real investment spending C. real saving D. real consumption spending