If a Country Produces Good Y (Measured on the Vertical

question 35

Multiple Choice

If a country produces good Y (measured on the vertical axis) and good X (measured on the horizontal axis) , then the absolute value of the slope of its production possibility frontier is equal to

• A) the opportunity cost of good X.
• B) the price of good X divided by the price of good Y.
• C) the price of good Y divided by the price of good X.
• D) the opportunity cost of good Y.
• E) the cost of capital (assuming that good Y is capital intensive) divided by the cost of labor.

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Definitions:

In-

A prefix used to indicate negation or absence.

Retro-

A prefix meaning "backwards" or "behind," used in various contexts including medical terminology to denote location or time.

Backward

Denotes a movement or action directed towards the rear or in reverse.

Ante-

A prefix meaning before or preceding in time or order.