-In the Table Above, Country B Is Producing 4 Units

question 312

Multiple Choice

-In the table above, country B is producing 4 units of X and 6 units of Y. For country B, the opportunity cost of producing an additional unit of Y is

• A) 1/2 unit of X per unit of Y.
• B) 2/3 unit of X per unit of Y.
• C) 2 units of X per unit of Y.
• D) 3 units of X per unit of Y.

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Definitions:

Local Governments

Administrative bodies that manage and govern specific areas within a country, such as cities, towns, or regions, often responsible for local services and laws.

Federal Spending

Refers to the total amount of money the federal government expends on various programs, services, and debt interest.

Ability-To-Pay Principle

A tax principle that states taxes should be levied based on the taxpayer’s ability to pay, meaning higher-income individuals should pay more in taxes than lower-income individuals.

Government Employment

Employment within governmental bodies, including all levels from local to federal.