Currently, a Farmer Can Either Grow 40 Bushels of Wheat

question 4

Multiple Choice

Currently, a farmer can either grow 40 bushels of wheat or 120 bushels of corn per acre. If he were able to trade 70 bushels of corn for 30 bushels of wheat, would he be better off or worse off?

• A) worse off, because his opportunity cost of wheat would increase from 2.33 bushels of corn to 3 bushels of corn
• B) better off, because his opportunity cost of wheat would fall from 80 bushels to 50 bushels
• C) better off, because his opportunity cost of wheat would fall from 3 bushels of corn to 2.33 bushels
• D) worse off, because his opportunity cost of wheat would increase from 50 bushels of corn to 80 bushels of corn

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Definitions:

Competitiveness

The capability of a company, sector, or country to produce goods or services that meet the quality standards of the local and global markets at prices that are competitive.

Arguments

A discussion involving differing viewpoints or evidence, often with the aim of persuading or arriving at a conclusion.

Title VII

A portion of the Civil Rights Act of 1964 that prohibits employment discrimination based on race, color, religion, sex, or national origin.

Civil Rights Act

Landmark legislation in the United States that outlawed discrimination based on race, color, religion, sex, or national origin, initially signed into law in 1964.