Assume that the opportunity cost for Germany to produce a jet is 50 cars. If Germany is producing on its production Possibility Frontier, some possible combinations of output for Germany could be:
A. (1,000 jets, 5,000 cars) and (900 jets, 10,000 cars).
B. (1,000 jets, 5,000 cars) and (900 jets, 15,000 cars).
C. (2,500 jets, 2,000 cars) and (2,300 jets, 20,000 cars).
D. (2,500 jets, 2,000 cars) and (2,300 jets, 3,000 cars).
A. (1,000 jets, 5,000 cars) and (900 jets, 10,000 cars).
You might also like to view...
High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides information about how many plastic chairs can be produced per hour.Number of WorkersChairs Produced Per Hour00110218324428530For simplicity, assume that labor is the only input. How many workers will be hired if the hourly wage for workers is $120?
A. 0 B. 5 C. 3 D. More than 5
If a sizeable amount of U.S. currency is held outside of the United States,
a. the accuracy of the M2 money supply figures will be improved, but there will be no impact on M1. b. the accuracy of the M1 money supply figures will be improved, but there will be no impact on M2. c. the money supply figures, particularly those for M1, will be less reliable. d. the money supply figures of the U.S. will not be affected because the funds are held outside the U.S.
A nation can determine how close it is to the classical range by considering its:
a. Export position. b. Net export position. c. Capacity utilization index. d. Exchange rate. e. None of the above.
A private good is characterized by excludability and depletability.
Answer the following statement true (T) or false (F)