Table 9-11 Output Per Hour Production and Production

question 219

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 hat in Belize?

• A) 1/2 of a clock
• B) 2/3 of a clock
• C) 1.5 clocks
• D) 2 clocks

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Enforceable

Capable of being imposed or upheld by legal process or action.

Lifetime Employment

A job guarantee in which an employee can expect to remain employed in their position for their entire working life.

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Capable of being executed or imposed in accordance with legal or contractual requirements.