Multiple Choice
In a Mexican factory,each worker can produce 1/8 of a vase or 1/16 of a statue per hour.If there are 400 workers at the factory,the opportunity cost of one statue is
A) 1/2 of a vase
B) 1/8 of a vase
C) 8 vases
D) 16 vases
E) 2 vases
Correct Answer:
Verified
Correct Answer:
Verified
Q44: For each watch Switzerland produces,it gives up
Q45: Assume that Chile can produce one pound
Q46: A tariff is<br>A)a law restricting the quantity
Q47: Protectionism arises because<br>A)people misunderstand the benefits of
Q48: If goods are produced abroad but consumed
Q50: A low-productivity country will tend to avoid
Q51: Objections to free trade<br>A)often come from those
Q52: A country that has relatively large amounts
Q53: Figure 16-6<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3973/.jpg" alt="Figure 16-6
Q54: Tariffs<br>A)benefit consumers by lowering prices<br>B)harm producers by