Refer to Figure 2-13. What is the opportunity cost of producing 1 ton of coconuts in Guatemala?

Which of the following is blamed for the lack of increased business investment spending on new factories and machinery during the 1930s?

(a) The new presence of government's large-scale economic activity caused business to lose some of its former confidence. (b) The general outlook stressed caution. (c) A much lower rate of population growth and family creation depressed the housing market. (d) All of the above.

Which of the following is the best example of scarcity?

A) The Talking Teddy is a surprise holiday hit, resulting in long lines of consumers trying to purchase the limited number of available Teddies. B) Fred only gets a 10-hour lunch break and each day must decide between working out at the gym or socializing with his colleagues. C) The local market's buy-one-get-one-free sale on strawberries results in more people wanting the berries than producers are able and willing to supply. D) There is a bumper crop of strawberries, and stores have more berries than they can sell.