The table above shows the PPF of an island community. This community's opportunity cost of producing 1 pound of fish ______
A. is the increase in the quantity of berries gathered as the quantity of fish increases by 1 pound
B. increases as the quantity of berries gathered increases
C. is 10 pounds of berries if the quantity of fish increases from 2 to 3 pounds
D. increases as the quantity of fish caught increases
D
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Which of the following statements is an example of the Fed's conditional commitment policy?
A) "In these circumstances, the Committee believes that policy accommodation can be maintained for a considerable period." B) "The Committee anticipates that weak economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time." C) "Policy accommodation can be removed at a pace that is likely to be measured." D) "The exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6-1/2 percent, and inflation between one and two years ahead is projected to be no more than a half percentage point above the Committee's 2 percent longer-run goal."
Social Security payments were not indexed to adjust for inflation until:
A. 1940. B. 1968. C. 1975. D. 1990.
Refer to the figure below. Player A can infer that Player B will:
A. choose Left. B. choose Left when A chooses Up and choose Right when A chooses Down. C. choose Right. D. Player A cannot infer anything about what Player B will do given this matrix.
In the table below, what are the marginal costs of the fourth unit of output?
A. $30,000 B. $20,000 C. $10,000 D. $40,000