Use the following table to answer the question below. Jake's Production Possibilities ScheduleJane's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn01600801012020602080404030406020400800 Jake's opportunity cost of producing 1 pound of green beans is ________ pound(s) of corn. Jane's opportunity cost of producing 1 pound of green beans is ________ pound(s) of corn.
A. 2,1
B. 1/4, 1
C. 4,1
D. 1,2
Answer: C
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Jane lives and works in New York. Every month she sends $500 to her mother in London. This is an example of a(n) ________
A) import by the U.S. B) transfer payment to the U.K. C) export by the U.S. D) factor payment to the U.K.
The higher the marginal tax rate for a given welfare program, the greater the damage to the work incentives of recipients, ceteris paribus.
Answer the following statement true (T) or false (F)
The long-run aggregate supply curve shifts to the right when ______, ceteris paribus.
a. producers are willing to supply less real output b. firms experience relatively constant input costs c. greater output is achieved on a sustainable basis d. workers believe that the price level is going to increase
Which of the following countries, or groups of countries, has grown at the fastest rate in the last ten years?
A. The United States B. Eastern Europe C. China D. Western Europe