Refer to Table 2-20. What is Thailand's opportunity cost of producing one pound of rice?
A) 60 wristwatches B) 20 wristwatches
C) 5 wristwatches D) 0.05 units of a wristwatch
D
You might also like to view...
A contract under which a buyer agrees to make payments in exchange for the provider agreeing to pay some or all of the buyer's medical bills is referred to as
A) a fee-for-service plan. B) the Affordable Care Act. C) a deductible. D) health insurance.
If Japan imposes a quota on imports of rice, the effect will be
A. less rice and higher price in Japan, lower rice prices in exporting countries. B. more rice and higher price in Japan, higher rice prices in exporting countries. C. less rice and lower price in Japan, higher rice prices in exporting countries. D. more rice and lower price in Japan, lower rice prices in exporting countries. E. less rice and higher price in Japan, higher rice prices in exporting countries.