Reduce the Ratio 18:54 to a Fraction in Lowest Terms

question 5

Multiple Choice

Reduce the ratio 18:54 to a fraction in lowest terms.

• A)18/54
• B)1/3
• C)3/4
• D)1/2

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Definitions:

Deflationary

Pertains to a period when the general price levels in an economy are falling, which can increase the real value of money.

Tariffs

Taxes imposed by a government on imported goods, often used to protect domestic industries and regulate trade balances.

Comparative Advantage

The ability of an individual or group to carry out a particular economic activity (such as making a specific product) more efficiently than another activity.

Absolute Advantage

The ability of a country, individual, or firm to produce more of a good or service with the same amount of resources compared to others.