Table 212 Table 2

question 82

Multiple Choice

Table 2.12 Table 2.12 Table 2.12 shows the number of labour hours required to produce a cell phone and a cubic metre of lumber in Estonia and Finland. -Refer to Table 2.12.What is Estonia's opportunity cost of producing one cell phone? A) 0.2 cubic metres of lumber B) 5 cubic metres of lumber C) 8 cubic metres of lumber D) 32 cubic metres of lumber Table 2.12 shows the number of labour hours required to produce a cell phone and a cubic metre of lumber in Estonia and Finland.
-Refer to Table 2.12.What is Estonia's opportunity cost of producing one cell phone?

Definitions:

Domestic Aggregate

A combined total of all economic activities and outputs within a country's borders, often considered in the analysis of economic health.

Interest-bearing Bonds

Debt securities that pay interest to holders, usually at fixed intervals, until the principal amount is repaid at maturity.

Interest Rates

Interest rates are the cost of borrowing money or the payment for offering credit, typically expressed as a percentage of the principal.

Money Supply

The full volume of financial resources in an economy at a particular point.