10) Both country 1 and country 2 are located on their respective PPF, but countr

Question

10) Both country 1 and country 2 are located on their respective PPF, but country 1 produces twice the output that country 2 produces. It follows that

a. country 1's PPF lies further to the right than country 2's PPF.

b. country 1 has a smaller population than country 2.

c. country 1 has a bigger population than country 2.

d. country 1 practices capitalism and country 2 practices socialism.

e. none of the above

13) Refer to picture above, Which graph depicts a technological breakthrough in the production of good Y only?

a. (1)

b. (2)

c. (3)

d. (4)

e. none of the above

14) Suppose the market basket consists of 10X, 20Y, and 30Z. Current-year prices are $1.00 for each unit of X, $0.96 for each unit of Y, and $1.13 for each unit of Z. Base-year prices are $1.00 for each unit of X, Y, and Z. What is the approximate CPI in the current year?

a. 1.05

b. 203

c. 105.17

309

Explanation / Answer

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.