Reference: Ref 2-8 (Table: Production in the United States and Germany)

question 32

Multiple Choice

Reference: Ref 2-8 (Table: Production in the United States and Germany) According to the table, the opportunity cost of producing one sofa in the United States is _________, and the opportunity cost of producing one sofa in Germany is _______.

• A) two clocks; three clocks
• B) 10 clocks; 27 clocks
• C) 0.4 clocks; 0.33 clocks
• D) 2.5 clocks; three clocks

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Definitions:

Well-Being

The state of being comfortable, healthy, or happy, encompassing physical, mental, and emotional health and prosperity.

Legal Contracts

Agreements that are enforceable by law, outlining rights and obligations among parties involved.

Social Contract

An implicit agreement among the members of a society to cooperate for social benefits, such as sacrificing some individual freedom for state protection.

Universal Ethical Principles

The fundamental guidelines that apply to people across all cultures, societies, and situations, emphasizing moral behaviors and actions.