Use the Figure Below to Answer the Following Questions

question 154

Multiple Choice

use the figure below to answer the following questions :

-The opportunity cost of increasing the production of apple pies from 12 to 14 pies is ________ pies.

• A) 2 blueberry
• B) 14 apple
• C) 7 blueberry
• D) 4 blueberry
• E) 2 apple

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Definitions:

Real Interest Rate

The excess of the interest rate over the inflation rate. The growth rate of purchasing power derived from an investment.

Tax Rate

The percentage at which an individual or corporation is taxed on their income or profits.

Budget Deficit

The amount by which government spending exceeds government revenues.

Interest Rates

The cost of borrowing money or the return on investments, expressed as a percentage of the principal amount.