Suppose an American Worker Can Make 50 Pairs of Gloves

question 20

Multiple Choice

Suppose an American worker can make 50 pairs of gloves or grow 300 radishes per day.A Bangladeshi worker,on the other hand,can produce 100 pairs of gloves or grow 200 radishes per day.The opportunity cost of one pair of gloves is:

• A)6 radishes for the United States and 2 radishes for Bangladesh.
• B)60 radishes for the United States and 20 radishes for Bangladesh.
• C)1/6 radishes for the United States and ½ radishes for Bangladesh.
• D)6,000 radishes for the United States and 2,000 radishes for Bangladesh.

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Definitions:

Residuary

The remainder of an estate left after all other bequests and claims have been satisfied.

Personal Representative

An individual appointed to administer the estate of a deceased person, also known as an executor or administrator.

Executor

The personal representative appointed to administer the estate of a person who died leaving a valid will.

Beneficiaries

Individuals or entities designated to receive the benefits or proceeds from insurance policies, trusts, wills, or other contracts.