The Total Amount of Cheese, in Billions of Pounds, Produced

question 91

Multiple Choice

The total amount of cheese, in billions of pounds, produced in the western and north central states in 1999 and 2000 was as follows. $$\begin{array} { | l | l | l | } \hline & \mathbf { 1 9 9 9 } & \mathbf { 2 0 0 0 } \\\hline \text { Western States } & 3.0 & 3.0 \\\hline \text { North Central States } & 3.9 & 4.1 \\\hline\end{array}$$ Thinking of this table as a (labeled) $2 \times 2$ matrix P, compute the matrix product $\left[ \begin{array} { l l } - 1 & 1\end{array} \right] \cdot P$ .

• A) \(\left[ \begin{array} { l l }
• 0.9 & 1.1
• \end{array} \right]\)
• B) \(\left[ \begin{array} { l l }
• 1.0 & 1.2
• \end{array} \right]\)
• C) \(\left[ \begin{array} { l l }
• 0.9 & 1.2
• \end{array} \right]\)
• D) \(\left[ \begin{array} { l l }
• 0.4 & 1.4
• \end{array} \right]\)
• E) \(\left[ \begin{array} { l l }
• 1.4 & 1.0
• \end{array} \right]\)

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Definitions:

Current Ratio

The current ratio is a liquidity metric that measures a company's ability to pay off its short-term liabilities with its short-term assets.

Note Receivable

A written promise that amounts will be received by the person holding the note, usually involving interest.

Return Ratio

A financial metric used to measure the efficiency or profitability of an investment, calculated by dividing the gain (or loss) from the investment by its cost.

Total Assets

The sum of all assets owned by an entity, including both current and long-term assets, representing the total value of what the entity owns.