Refer to the given data. The domestic opportunity cost of producing 1 ton of steel in Omega is:
A. ½ ton of wheat.
B. 2 tons of wheat.
C. 3 tons of wheat.
D. 5 tons of wheat.
C. 3 tons of wheat.
Economics
You might also like to view...
What does the Lorenz Curve illustrate about the economy?
(A) The kinds of jobs. (B) The distribution of income. (C) The causes of poverty. (D) The types of families.
Economics
The labor-force participation rate tells us the fraction of the population that
a. is able to participate in the labor market. b. has ever been employed. c. has chosen to participate in the labor market. d. has chosen not to participate in the labor market.
Economics