Suppose That a Worker in Freedonia Can Produce Either 6

question 88

Multiple Choice

Suppose that a worker in Freedonia can produce either 6 units of corn or 2 units of wheat per year,and a worker in Sylvania can produce either 2 units of corn or 6 units of wheat per year.Each nation has 10 workers.Without trade,Freedonia produces and consumes 30 units of corn and 10 units of wheat per year.Sylvania produces and consumes 10 units of corn and 30 units of wheat.Suppose that trade is then initiated between the two countries,and Freedonia sends 30 units of corn to Sylvania in exchange for 30 units of wheat.Sylvania will now be able to consume a maximum of

• A)30 units of corn and 30 units of wheat.
• B)40 units of corn and 30 units of wheat.
• C)40 units of corn and 20 units of wheat.
• D)10 units of corn and 40 units of wheat.

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Definitions:

Variance

A measure of how much values in a set differ from the mean of the set.

Central Tendency

A descriptive summary of a dataset through a single value that reflects the center of the data's distribution, often illustrated by the mean, median, or mode.

Alternative Hypothesis

The hypothesis that proposes a significant effect or difference, in contrast to the null hypothesis.

One-way ANOVA

An analytical procedure designed to evaluate if distinct, unrelated groups of three or more have statistically meaningful differences in their mean values.