Use the following table to answer the question below. Dave's Production Possibilities SchedulePounds of Green BeansPounds of Corn0160201204080604080 0 Dave's opportunity cost of producing 1 pound of green beans is ________ pound(s) of corn.
A. 1/2
B. 2
C. 4
D. 1
Answer: B
You might also like to view...
Which of the following pairs of goods includes a good that is excludable and rival in consumption as well as a good that is excludable and not rival in consumption?
a. pizza, cable TV b. pair of pants, clean air c. clean air, mathematical theorem d. basic research, fireworks display
An economy in which output has decreased and prices have decreased would suggest a:
A. decrease in short-run aggregate supply. B. increase in aggregate demand. C. increase in short-run aggregate supply. D. decrease in aggregate demand.
Taylor has the following assets and liabilities:Two cars$15,000House$400,000Mortgage$300,000Cash$1,000Car loans$5,000Checking account balance$3,000Credit card balance$3,000What is Taylor's wealth?
A. $111,000 B. $105,000 C. $107,000 D. $419,000
In the market for jeans, which of the following events increases the de-mand for a pair of jeans?
A. The wage rate paid to garment workers rises. B. The price of a denim skirt (a substitute for jeans) rises. C. The price of denim cloth falls. D. New technology reduces the time it takes to make a pair of jeans.