When Operating on Its PPF, a Country Can Produce 2

question 127

Multiple Choice

When operating on its PPF, a country can produce 2 tons of butter and 200 cars OR 3 tons of butter and 150 cars. The opportunity cost of 1 ton of butter is ________ cars per ton of butter.

• A) 300
• B) 200
• C) 50
• D) 0.75

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Definitions:

Decrease

A reduction in size, number, quantity, or extent.

Confidence Interval

An estimated interval of values which is likely to include an unknown population parameter, the estimate being based on the sample data.

Slope

A measure of the steepness or incline of a line, often representing the rate of change in a linear equation.

SPPS Regression Output

A reference to the outputs generated from statistical analysis conducted in SPSS software, concerning regression analysis.