Answer the next question on the basis of the following production possibilities tables for two countries.Latalia's Production Possibilities ABCDEPork (tons)43210Beans (tons)05101520Trombonia's Production Possibilities ABCDEPork (tons)86420Beans (tons)06121824Which of the following would be feasible terms for trade between Latalia and Trombonia?
A. 2 tons of beans for 1 ton of pork
B. 1 ton of beans for 1 ton of pork
C. 6 tons of beans for 1 ton of pork
D. 4 tons of beans for 1 ton of pork
Answer: D
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Suppose the current level of output is 5000. If the elasticities of output with respect to capital and labor are 0.3 and 0.7,
respectively, a 10% increase in capital combined with a 5% increase in labor and a 5% increase in productivity would increase the current level of output to A) 5015. B) 5325. C) 5575. D) 6000.
Primary sources of SO2 emissions are
a. fossil-fuel burning power plants and refineries b. heavy-duty trucks and buses c. light-duty trucks and automobiles d. commercial aircraft
An economy grows when it does all of the following except ?_______.
A. lowers prices B. develops better technologies C. improves the quality of labor by education D. implements? on-the-job training E. acquires more machines to help it produce
Output per unit of input measures
A. Productivity. B. The investment rate. C. The inequality trap. D. Per capita GDP.