At One Point Along a PPF, 50 Tons of Coffee

question 7

Multiple Choice

At one point along a PPF, 50 tons of coffee and 100 tons of bananas are produced. At another point along the same PPF, 30 tons of coffee and 140 tons of bananas are produced. The opportunity cost of a ton of coffee between these points is

• A) 7/5 of a ton of bananas per ton of coffee.
• B) 5/7 of a ton of bananas per ton of coffee.
• C) 2 tons of bananas per ton of coffee.
• D) 1/2 of a ton of bananas per ton of coffee.

Determine the size of the labor force from given data.

Identify phases within the business cycle.

Analyze economic indicators to deduce periods of recession, prosperity, deflation, disinflation, or inflation.

Calculate changes in the Consumer Price Index (CPI) and understand their economic implications.

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Definitions:

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Scientists who study how people's thoughts, feelings, and behaviors are influenced by the actual, imagined, or implied presence of others.

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Scholars who study and explain how people acquire knowledge, skills, habits, and attitudes, often focusing on the processes of conditioning and cognitive development.

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Scientists who study the mental processes involved in perception, memory, thought, and problem solving.

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Scientists who study the physiological bases of behavior in animals and humans.