The Absolute Value of the Slope of the Production Possibility

question 260

Multiple Choice

The absolute value of the slope of the production possibility frontier at any point:

• A)gives the autarky price of the good on the vertical axis.
• B)is found by dividing the horizontal change by a vertical change.
• C)gives the quantity of the good on the vertical axis that must be given up to produce an additional unit of the good on the horizontal axis.
• D)gives the autarky price of the good on the horizontal axis relative to the autarky price of the good on the vertical axis.

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Definitions:

Calcium Carbonate

A chemical compound with the formula CaCO3, a common substance found in rocks as the minerals calcite and aragonite (most notably as limestone) and is the main component of pearls and the shells of marine organisms, snails, and eggs.

Stalagmites

Mineral formations that rise from the floor of a cave due to the accumulation of material deposited by dripping water enriched with minerals.

Travertine

A form of limestone deposited by mineral springs, especially hot springs, often characterized by its terraced structure.

Impermeable Rocks

Rock formations that do not allow water to pass through due to their tight grain structure, such as granite or clay.