Refer to the information provided in Table 33.1 below to answer the question(s) that follow. Table 33.1
Refer to Table 33.1. Before specialization, Mexico produces 160 bushels of oranges and 40 bushels of bananas, and Guatemala produces 30 bushels of oranges and 40 bushels of bananas. After specialization, the increase in banana production is
A. 10 bushels of bananas.
B. 15 bushels of bananas.
C. 20 bushels of bananas.
D. 40 bushels of bananas.
Answer: C
You might also like to view...
Why is it that the consumer can maximize total net utility only if the purchase quantity brings marginal utility as close as possible to equality with price?
What will be an ideal response?
According to Taylor's rule, all of the following variables help explain the behavior of the federal funds rate EXCEPT
A) output gap. B) current inflation. C) inflation gap. D) yield curve.
Which of the following best explains why so many persons with incomes below the poverty threshold income level work very little or not at all?
a. They confront high implicit marginal tax rates. b. They do not enjoy income as much as other people. c. There are no jobs for low-skill workers. d. They often face very low explicit marginal tax rates.
Which of the following statements is true?
a. All virtual currencies are electronic, and all electronic currencies are virtual. b. Virtual money is, by definition, legal tender. c. It is possible for virtual money to be (at the same time) a unit of account, store of value, and medium of exchange. d. Virtual currencies are highly regulated.