Table 35.1CountryTons of SoybeansComputerChina100300United States150750Based on the information in Table 35.1, assume China and the United States have the same amount of resources with which to produce soybeans and computers and they produce no other goods. The opportunity cost of producing 1 ton of soybeans in the United States is
A. 1/3 of a computer.
B. 1/5 of a computer.
C. 3 computers.
D. 5 computers.
Answer: D
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A) both the monopoly's output and price are lower than the perfectly competitive market's output and price. B) both the monopoly's output and price are higher than the perfectly competitive market's output and price. C) the monopoly's output is higher and the monopoly's price is lower than the perfectly competitive market's output and price. D) the monopoly's output is smaller and the monopoly's price is higher than the perfectly competitive market's output and price.
Describe the relationship between investment and the level of disposable income
In 2008 if the poverty line had been set higher, the poverty rate would have been _______.
Fill in the blank(s) with the appropriate word(s).
Fluctuations in employment and output result from changes in
a. aggregate demand only. b. aggregate supply only. c. aggregate demand and aggregate supply. d. neither aggregate demand nor aggregate supply.