Refer to the tables. Suppose that resources in North Cantina and South Cantina are identical in quantity and quality. We can conclude that:
Answer the question on the basis of the following production possibilities tables for two countries, North Cantina and South Cantina:
A. South Cantina has better technology than North Cantina in producing both capital and
consumer goods.
B. North Cantina has better technology than South Cantina in producing both capital and
consumer goods.
C. North Cantina is growing more rapidly than South Cantina.
D. North Cantina has better technology than South Cantina in producing consumer goods but
not capital goods.
D. North Cantina has better technology than South Cantina in producing consumer goods but
not capital goods.
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An example of a public good is
A. a grocery store. B. a ticket to a baseball game. C. a hardwood forest in a national park. D. an orange grove.
An inelastic supply schedule means that _____
a. suppliers are unwilling to substitute away from producing the good b. demanders are unwilling to substitute away from consuming the good c. demanders are unwilling to substitute towards consuming the good d. suppliers are unwilling to shift any portion of an imposed tax onto demanders