The Figures Below Depict the Production Possibilities Frontiers (PPFs) for Two

question 28

Multiple Choice

The figures below depict the production possibilities frontiers (PPFs) for two people who can allocate the same amount of time between making pizzas and making stromboli. Refer to these figures to answer the next three questions.

-What is Pam's opportunity cost of making 1 stromboli?

• A) 30 pizzas
• B) 20 stromboli
• C) 2 pizzas
• D) 1.5 pizzas
• E) 2/3 pizza

Recognize the significance of the capabilities approach as advocated by Martha Nussbaum.

Comprehend the principle of utility and its criticisms, including the potential for justifying harm for greater good.

Learn the importance of the categorical imperative according to Immanuel Kant and its contrast with consequentialism.

Understand the role of autonomy in ethics and its limitations.

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Definitions:

Smooth Income

The practice or process of stabilizing income over time in order to manage fluctuations and avoid significant variations in earning levels.

Parity

A concept of economic equality or equivalence, such as between currencies or in the income levels between groups.

Price Supports

Government interventions to maintain the market price of a commodity or product at a certain level, often to protect producers from market fluctuations.

Marketing Loan Program

A federal farm subsidy under which certain farmers can receive a loan (on a per-unit-of-output basis) to plant a crop and then, depending on the harvest price of the crop, either pay back the loan with interest or keep the loan proceeds while forfeiting their harvested crop to the lender.