Consider a Country That Has Two Industries

question 98

Multiple Choice

Consider a country that has two industries.In the north,they grow wild rice,which requires a lot of rainfall.In the south,they grow wheat,which requires just a moderate amount of rainfall (too much rainfall is bad for wheat production) .One year,there is a record rainfall.This will result in

• A)a parallel shift inward of the production possibilities frontier.
• B)a parallel shift outward of the production possibilities frontier.
• C)the production possibilities frontier swiveling, with the wild rice intercept increasing, and the wheat intercept decreasing.
• D)the production possibilities frontier swiveling, with the wild rice intercept decreasing, and the wheat intercept increasing.
• E)none of the above.

Recognize the importance of separating creative imagination from judgment during brainstorming sessions.

Learn different creative thinking techniques and their applications, such as analogy and reversal techniques.

Comprehend the definition and application of lateral thinking for generating new ideas.

Understand the principles of evidence-based management and its application in an organizational context.

---

Definitions:

Scrap

Waste materials or discarded objects that can be recycled or reused, often leftover from manufacturing and consumption.

Marginal Abatement Cost

Represents the cost associated with eliminating an additional unit of a negative output, such as pollution.

Emissions Permit

A legal right granted by a government to emit a certain amount of pollutants into the atmosphere; often used in cap and trade programs.

Refundable Deposit

An amount of money given as security for an item that is intended to be returned, with the promise of repayment.