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Scenario 3-2
In country A a worker who works 40 hours can produce 200 pounds of rice or 100 pounds of broccoli.In country B a worker who works 40 hours can produce 160 pounds of rice or 120 pounds of broccoli.
-Refer to Scenario 3-2.Which country,if either,has an absolute advantage producing rice? Defend your answer.
Disposable Income
Net pay after taxes and other deductions, available for spending, saving, or investment.
Consumption
The utilization of products and services by families.
Marginal Propensity
The ratio of the change in an economic variable, such as consumption or saving, to the change in another, typically income.
Disposable Income
The net financial position of households for spending and saving, after accounting for income taxes.
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