Suppose That a Worker in Country a Can Make Either

question 111

Multiple Choice

Suppose that a worker in Country A can make either 10 iPods or 5 tablets each year.Country A has 100 workers.Suppose a worker in Country B can make either 2 iPods or 10 tablets each year.Country B has 200 workers.A bundle of goods that Country A could potentially make would be:

• A) (500 iPods, 500 tablets).
• B) (500 iPods, 400 tablets).
• C) (500 iPods, 300 tablets).
• D) (500 iPods, 200 tablets).

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Definitions:

Magnitude

The size, extent, or importance of something, often quantitative in nature.

Perfect Positive Relationship

A correlation in which one variable increases exactly as the other one increases, represented by a correlation coefficient of +1.

Correlation Coefficient

A numerical measure that quantifies the strength and direction of a relationship between two variables.

Variables

Elements or characteristics that can vary within or across subjects.