-The Above Table Shows Production Combinations on a Country's Production

question 332

Multiple Choice

-The above table shows production combinations on a country's production possibilities frontier. What is the opportunity cost of one unit of Y when the production of good Y increases from 16 to 28 units?

• A) 4 units of good X per unit of good Y
• B) 3 units of good X per unit of good Y
• C) 1/4 unit of good X per unit of good Y
• D) There is no opportunity cost when moving from one point to another along a production possibilities frontier.

---

Definitions:

End-Of-Period Spreadsheet

A financial document used to gather and adjust account information from the ledger in order to prepare financial statements at the end of an accounting period.

Capital Balance

The amount of money that owners have invested in a company, not including any profits or losses.

Natural Business Year

A fiscal year that ends when a company's sales are at their lowest point in their annual cycle.

Fiscal Year

A one-year period used for financial reporting and budgeting, which does not necessarily coincide with the calendar year.