If a Country Produces Good Y (Measured on the Vertical

question 64

Multiple Choice

If a country produces good Y (measured on the vertical axis) and good X (measured on the horizontal axis) ,then the absolute value of the slope of its production possibility frontier is equal to

• A)the opportunity cost of good X.
• B)the price of good X divided by the price of good Y.
• C)the price of good Y divided by the price of good X.
• D)the opportunity cost of good Y.
• E)the cost of capital (assuming that good Y is capital intensivE)divided by the cost of labor.

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Definitions:

1951

A year in the 20th century marked by numerous historical events, including the signing of the ANZUS Pact, the beginning of the Korean War, and the term frequently associated with the start of the Cold War era.

Peak

The highest point or maximum level of something, such as a mountain top, or the apex of achievement, performance, or activity.

Marriage Rates

The frequency or number of marriages in a given population per unit of time, often measured per 1,000 inhabitants annually.

Canada

A country located in North America, known for its multicultural society, bilingualism (English and French), expansive natural landscapes, and a federal system of parliamentary democracy.