The table shows the PPF of an island community. Choose the best state-ment
A. This community has enough resources to produce 2 pounds of fish and 36 pounds of berries.
B. This community cannot produce 2 pounds of fish and 36 pounds of berries because this combination is inefficient.
C. This community will waste resources if it produces 2 pounds of fish and 22 pounds of berries.
D. This community can produce 2 pounds of fish and 30 pounds of berries but this combination is inefficient.
C The production point is inside the PPF and so is inefficient.
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The mutual relationship between two events is known as ________, and when one event is responsible for the other even happening, this is known as ________
A) causation; correlation B) correlation; causation C) symbiosis; correlation D) causation; symbiosis
A fixed exchange rate system where central banks buy and sell gold to keep exchange rates at a given level is called the:
A) fixed standard. B) flexible standard. C) fiat standard. D) gold standard.