A nation can produce two products: steel and wheat. The table below is the nation's production possibilities schedule:Production Possibilities ScheduleProductABCDEFSteel012345Wheat100907555300A change from combination C to B means that
A. 2 units of steel are given up to get 75 units of wheat.
B. 1 unit of steel is given up to get 15 more units of wheat.
C. 1 unit of steel is given up to get 75 units of wheat.
D. 2 units of steel are given up to get 15 more units of wheat.
Answer: B
You might also like to view...
The labor force equals the number of people:
A. both employed and unemployed. B. employed. C. aged 16 years and older. D. employed, unemployed and discouraged.
A ________ is owned by its stockholders
A) sole proprietorship B) partnership C) corporation D) All of the above are correct.
There is no limit for domestic central bank intervention
Indicate whether the statement is true or false
In the long run, it is in the best interests of a member of a cartel to: a. decrease the price of its output
b. increase the level of its output. c. maintain the same quality of output. d. improve the quality of its output.