-In the Figure Above, Suppose That Mac and Izzie Trade

question 140

Multiple Choice

-In the figure above, suppose that Mac and Izzie trade and reach point c. Then

• A) Mac produces outside his production possibilities frontier.
• B) Izzie produces outside her production possibilities frontier.
• C) Mac and Izzie both produce outside their production possibilities frontiers.
• D) neither Mac nor Izzie produce outside their production possibilities frontiers.

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Definitions:

Degrees Of Freedom

The number of values in the calculation of a statistic that are free to vary, often related to the sample size.

Pearson Correlation

A measure of the linear correlation between two variables, giving a value between -1 and 1 inclusive, where 1 is total positive linear correlation, 0 is no linear correlation, and -1 is total negative linear correlation.

Negative Number

A real number that is less than zero, indicating a lack of something or a decrease in a given value.

Pearson Correlation Coefficient

The Pearson Correlation Coefficient is a measure of the linear correlation between two variables, ranging from -1 to +1, where 1 means a perfect positive correlation and -1 means a perfect negative correlation.