Use the following table to answer the question below.Alexandra's Production Possibilities ScheduleNatalia's Production Possibilities ScheduleNumber of Scarfs Knitted per dayNumber of Sweaters Knitted per dayNumber of Scarfs Knitted per hourNumber of Sweaters Knitted per hour040433236242916112080What is the minimum a scarf would be traded for in this example?
A. 1/3 of a sweater
B. 2 sweaters
C. 1/2 of a sweater
D. 3 sweaters
Answer: A
You might also like to view...
The GDP price index equals ________.
A. gross private domestic investment less the consumption of fixed capital B. nominal GDP divided by real GDP C. gross national product less net foreign factor income earned in the United States D. real GDP divided by nominal GDP
A firm's accounting profit does not include its:
a. explicit costs. b. sunk costs. c. fixed costs. d. opportunity costs. e. variable costs.
If there is a greater degree of economic similarity between the home nation and the base currency nation, the economic stabilization benefit of pegged exchange rates:
A) gets smaller. B) becomes more equal. C) gets larger. D) disappears.
In the data, we observe that countries with high inflation rates tend to have high nominal interest rates. What does this imply, if anything, about real interest rates in countries with very high inflation rates?
What will be an ideal response?