Suppose Maria can make 12 pizzas or 4 lasagnas every Saturday afternoon, while Gina can make 10 pizzas or 2 lasagnas every Saturday afternoon. Which statement is true?
A) Maria is the most efficient producer of both pizza and lasagna.
B) Gina is the least efficient producer of both pizza and lasagna.
C) It costs Maria 3 pizzas to produce 1 lasagna.
D) It costs Gina 5 lasagnas to produce 1 pizza.
E) All of the above are true.
C
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Which of the following correctly describe an economy's potential output level?
a. The maximum output level that is sustainable given available resources, technology, institutional constraints, and production incentives. b. The amount produced when there are surprises associated with the price level in an economy. c. The amount produced when there are surprises associated with the unemployment level in an economy. d. The maximum output level that is not sustainable given available resources, technology, institutional constraints, and production incentives.
What is the percentage of income received by the lower three quintiles on line J?
