Refer to Figure 2-10. If this economy put all available resources into the production of bananas, it could produce
a. 200 bananas and also 150 baseballs.
b. 300 bananas and also 100 baseballs.
c. 400 bananas and no baseballs.
d. It is impossible to know unless we know the quantity of resources available.
c. 400 bananas and no baseballs.
You might also like to view...
What are the influences on the demand for labor?
What will be an ideal response?
What is depreciation, and what happens to the depreciation line when the rate of depreciation increases or decreases?
What will be an ideal response?
Policies aimed at reducing the natural rate of unemployment are referred to as
a. stabilization policies. b. structural policies. c. macroeconomic policies. d. labor policies.
A monopoly will look for opportunities to price discriminate because the practice
A. leads to greater profits. B. allows it to charge higher prices. C. leads to selling more units. D. is desired by customers.