The following graph shows the production possibilities curve for the economy with only two members, Silvia and Art. Silvia can produce either 50 pounds of beef or 2 computers per week, and Art can produce 100 pounds of beef or 1 computer per week. Both of them work 40 weeks per year.With the opportunity to trade Silvia and Art can ________ the maximum consumption of computers by ________ units.
A. decrease; 160
B. decrease; 80
C. increase; 40
D. increase; 160
Answer: C
Economics
You might also like to view...
In the above table, for Mary the opportunity cost of producing a dress is ________, and the opportunity cost for Mark of producing a dress is ________
A) 1 1/2 jackets; 2/3 of a jacket B) 1 1/2 jackets; 2 1/2 jackets C) 1 1/4 jackets; 1/2 of a jacket D) 1 jacket; 1 jacket E) 1 dress; 1 dress
Economics
A trade surplus exists if export spending is less than import spending
Indicate whether the statement is true or false
Economics