Figure: Strawberries and Submarines II

question 138

Essay

Figure: Strawberries and Submarines II
(Figure: Strawberries and Submarines II) Look at the figure Strawberries and Submarines II.Suppose the economy is now operating at point
A.The first submarine, which is achieved at point B, would have an opportunity cost of million tons of strawberries.
A.50
B.150
C.400
D.950

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Definitions:

World Bank

Organization established by industrialized nations to lend money to less-developed countries.

Financial Crisis

A situation where the value of financial institutions or assets drops significantly and is often accompanied by panic in the financial markets and a lack of liquidity.

Quotas

Limits set on the quantity of a product that can be imported or exported during a given timeframe, used as a trade policy tool.

Specified Time Periods

Designated or clearly defined intervals of time within which certain actions are performed or conditions are to be met.