Refer to Figure 2-13. What is the opportunity cost of producing 1 ton of pineapples in Guatemala?
A) 1/2 of a ton of coconuts B) 1 1/3 tons of coconuts
C) 2 tons of coconuts D) 180 tons of coconuts
C
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Suppose a nation's real Gross Domestic Product (GDP) grows at a rate of 2 percent per year while its population grows 2 percent annually. Given this information, this nation's annual rate of per capita real GDP growth is equal to
A) 1 percent. B) -1 percent. C) 0 percent. D) 4 percent.
In the above figure, what is the amount of producer surplus at the efficient quantity?
A) $0 B) $1,000 C) $2,000 D) $4,000
Currency traders expect the value of the dollar to fall. What effect will this have on the demand for dollars and the supply of dollars in the foreign exchange market?
A) Demand for dollars will increase, and supply of dollars will increase. B) Demand for dollars will decrease, and supply of dollars will decrease. C) Demand for dollars will increase, and supply of dollars will decrease. D) Demand for dollars will decrease, and supply of dollars will increase.
A country that has demonstrated the ability to catch up to the technology leaders by investing in both physical and human capital is called
a. a dependent economy. b. a converging economy. c. an advancing economy. d. a predatory economy.