Table 2-15 Table 2-15 Shows the Output Per Day of Day

question 314

Multiple Choice

Table 2-15
Table 2-15 shows the output per day of two gardeners, George and Jack. They can either devote their time to mowing lawns or cultivating gardens.
-Refer to Table 2-15. What is Jack's opportunity cost of cultivating a garden?

• A) one-half of a garden cultivated
• B) two lawns mowed
• C) two-thirds of a garden cultivated.
• D) one and a half lawns mowed

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Definitions:

Mutual Funds

Investment programs funded by shareholders that trade in diversified holdings and are managed by professionals.

Investment Charges

Fees and expenses associated with investing in various types of investment vehicles, like mutual funds or stocks.

Public Saving

The difference between a government's total revenue and its total expenditures, reflecting the surplus or deficit in the public sector's budget.

Private Saving

Private saving is the portion of households' and businesses' income that is not spent on consumption or paying taxes, and is instead saved for future use.