Refer to Figure 2-8. What is the opportunity cost of producing 1 ton of pineapples in Guatemala?
A) 1/2 of a ton of coconuts B) 1 1/3 tons of coconuts
C) 2 tons of coconuts D) 180 tons of coconuts
C
Economics
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The annual growth rate of an economy is 10 percent. The economy's GDP will double in about ________ years
A) 12 B) 10 C) 20 D) 7 E) 14
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The average product of labor is equal to the
A) total product divided by the total number of workers hired. B) total number of workers hired divided by the total product. C) slope of the marginal product of labor curve. D) Both answers B and C are correct.
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