Table 19-11
Output Per Hour Production and Production
of Work

question 179

Multiple Choice

Table 19-11
Output per hour Production and Production
of work Consumption without Trade with Trade
$\begin{array}{|l|c|c|c|c|c|c|}\hline & \text { Clocks } & \text { Hats } & \text { Clocks } & \text { Hats } & \text { Clocks } & \text { Hats } \\\hline \text { Denmark } & 6 & 3 & 900 & 150 & 1,200 & 0 \\\hline \text { Belize } & 1 & 2 & 150 & 100 & 0 & 400 \\\hline\end{array}$ 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 19-11 shows the output per hour of work, the production and consumption quantities without trade, and the production numbers with trade.
-Refer to Table 19-11.If the actual terms of trade are 1 hat for 1.8 clocks and 150 hats are traded,how many hats will Belize consume?

• A) 100
• B) 130
• C) 250
• D) 400

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Definitions:

Discrete Probability

A branch of probability that deals with occurrences that have distinct and separate values, often involving countable outcomes.

Random Variable

A variable whose numerical values are contingent upon the outcomes of randomness.

Occurrences

Instances or events that happen or take place.

Expected Monthly Production

An estimate of the quantity of goods or services that are anticipated to be produced in a given month.