Suppose It Takes Dan 5 Minutes to Make a Sandwich

question 150

Multiple Choice

Suppose it takes Dan 5 minutes to make a sandwich and 15 minutes to make a smoothie, and it takes Tracy 6 minutes to make a sandwich and 12 minutes to make a smoothie. What is the opportunity cost to Dan of making a sandwich?

• A)1/3 of a smoothie
• B)3 smoothies
• C)15 smoothies
• D)5 smoothies

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Definitions:

Underwood Tariff

A 1913 U.S. law that significantly lowered tariffs on imported goods for the first time since the Civil War and implemented an income tax following the ratification of the 16th Amendment.

Tariff Rates

Taxes imposed by a government on imported or exported goods.

Independent Commission

An autonomous body established to investigate, analyze, or oversee specific issues or areas, often governmental or industry-related, without bias.

Theodore Roosevelt

The 26th President of the United States, known for his progressive policies, leadership in the early 20th century, and role in mediating the end of the Russo-Japanese War.