Assume for Namibia That the Opportunity Cost of Each Hut

question 278

Multiple Choice

Assume for Namibia that the opportunity cost of each hut is 200 bowls.Which of these pairs of points could be on Namibia's production possibilities frontier?

• A) (200 huts, 30,000 bowls) and (150 huts, 35,000 bowls)
• B) (200 huts, 40,000 bowls) and (150 huts, 30,000 bowls)
• C) (300 huts, 50,000 bowl) and (200 huts, 60,000 bowls)
• D) (300 huts, 60,000 bowls) and (200 huts, 80,000 bowls)

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Definitions:

Corporate Income Tax

A tax imposed on the net income of a company derived from its business activities within a country.

Adam Smith

An 18th-century Scottish economist and philosopher, known as the "Father of Economics," who wrote "The Wealth of Nations" and is credited with founding modern economic theory.

Economic Role

The function or position an entity or individual plays within an economic system, influencing how resources are distributed and utilized.

Free Enterprise Economies

Systems where businesses operate with minimal government intervention, guided by the forces of supply and demand.