Table 9-11 Output Per Hour Production and Production

question 271

Multiple Choice

Table 9-11
Output per hour Production and Production
of work Consumption without Trade with Trade
Denmark and Belize can produce both clocks and hats. Each country has a total of 200 available labor hours for the production of clocks and hats. Table 9-11 shows the output per hour of work, the production and consumption quantities without trade, and the production numbers with trade.
-Refer to Table 9-11. What is the opportunity cost to produce 1 clock in Belize?

• A) 1/2 of a hat
• B) 2/3 of a hat
• C) 1.5 hats
• D) 2 hats

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Definitions:

Decision-Making Process

A step-by-step approach to making choices among various alternatives, involving elements such as identifying a problem, evaluating options, and selecting a course of action.

Emergency Situation

Often involves an unusual event, can vary in nature, is unplanned and requires a quick response.

Bystander-Calculus Model

A theoretical model explaining the calculations individuals make before deciding to intervene or act in emergency situations.

Time and Effort

The amount of duration and physical or mental exertion invested into doing something.