The graphs above show the production possibilities curves for the U.S. and Canada, which both produce cars and wheat. Based on the graphs above, which of the following is true?

A) The opportunity cost of a car in the U.S. is 1 unit of wheat.
B) The opportunity cost of a car in the U.S. is 5 units of wheat.
C) The opportunity cost of a car in Canada is 1/2 unit of wheat.
D) The opportunity cost of a car in Canada is 2 units of wheat.

A

Economics

You might also like to view...

Adverse supply shocks can cause a recession with increasing price level

Indicate whether the statement is true or false

Economics

Which assistance program(s) target(s) the health care needs of the poor?

a. TANF b. food stamps c. Social Security d. Supplemental Income e. Medicaid

Economics