In the table above, country B is producing 4 units of X and 6 units of Y. For country B, the opportunity cost of producing an additional unit of Y is
A) 1/2 unit of X per unit of Y.
B) 2/3 unit of X per unit of Y.
C) 2 units of X per unit of Y.
D) 3 units of X per unit of Y.
B
Economics
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Compared with industrialized economies, most developing countries are poor in the factors of production essential to modern industry: These factors are
A) capital and skilled labor. B) capital and unskilled labor. C) fertile land and unskilled labor. D) fertile land and skilled labor. E) water and capital.
Economics
The following have strengthened individual control over private property: taxation, zoning, land-use restrictions and eminent domain law
Indicate whether the statement is true or false
Economics