Table 9-6 Output Per Hour Production and Production

question 12

Multiple Choice

Table 9-6
Output per hour Production and Production
of work Consumption without Trade with Trade

Denmark and Belize can produce both clocks and hats. Each country has a total of 200 available labor hours for the production of clocks and hats. Table 9-6 shows the output per hour of work, the production and consumption quantities without trade, and the production numbers with trade.
-Refer to Table 9-6.What is the opportunity cost to produce 1 hat in Belize?

• A)1/2 of a clock
• B)2/3 of a clock
• C)1.5 clocks
• D)2 clocks

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Definitions:

Liquidity Ratios

Financial metrics used to measure a company's ability to meet its short-term obligations with its current assets.

Solvency Ratios

Measures of the ability of the company to survive over a long period of time.

Profitability Ratios

Financial metrics used to assess a business's ability to generate earnings relative to its revenue, assets, equity, and other factors.

Comprehensive Income

Represents the total change in equity for a business enterprise during a period from transactions and other events from non-owner sources.