Table 2-7 Table 2-7 Shows the Output Per Month of Two People

question 102

Multiple Choice

Table 2-7

Table 2-7 shows the output per month of two people, Fred and Barney. They can either devote their time to making pogo sticks or making unicycles.
-Refer to Table 2-7.What is Barney's opportunity cost of making a pogo stick?

• A)1/2 of a unicycle
• B)2 unicycles
• C)1/3 of a unicycle
• D)1.4 pogo sticks

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Definitions:

U.S. Economy

The economic system of the United States characterized by a mixed economy that supports private freedom, including a variety of private businesses, alongside significant government regulation and programs.

Imported Goods

Items brought into a country from another country for sale or use.

State Tariffs

Taxes imposed by state governments on imported goods, which were once a source of revenue and economic policy before being predominantly managed at the federal level in the United States.

Shays's Rebellion

An armed uprising in 1786-1787 in western Massachusetts, led by Daniel Shays, protesting against economic injustices and lack of government response, highlighting the weaknesses of the Articles of Confederation.