Refer to the tables. Suppose that resources in North Cantina and South Cantina are identical in quantity and quality. We can conclude that:
Answer the question on the basis of the following production possibilities tables for two countries, North Cantina and South Cantina:
A. South Cantina has better technology than North Cantina in producing both capital and
consumer goods.
B. North Cantina has better technology than South Cantina in producing both capital and
consumer goods.
C. North Cantina is growing more rapidly than South Cantina.
D. North Cantina has better technology than South Cantina in producing consumer goods but
not capital goods.
D. North Cantina has better technology than South Cantina in producing consumer goods but
not capital goods.
You might also like to view...
A pay cap, acting as a price ceiling, for superintendent pay would do what in the labor market?
A. Decrease the supply of superintendents. B. Cause a shortage of superintendents. C. Increase the demand of superintendents. D. Cause a surplus of superintendents.
If business inventories decrease below desired levels, then it is most likely that a
A. Higher price level will occur. B. Lower level of output will occur. C. Recessionary gap will occur. D. Higher level of unemployment will result.
Which of the following is NOT associated with the new growth theory?
A. technology B. research C. natural resources D. innovation
Technological efficiency is
A) a necessary and sufficient condition for profit maximization. B) a sufficient but not necessary condition for profit maximization. C) a necessary but not sufficient condition for profit maximization. D) a theoretical construct with little connection to the real world.