Figure 2-4 -Refer to Figure 2-4.The Opportunity Cost of This Economy Moving

question 106

Multiple Choice

Figure 2-4

-Refer to Figure 2-4.The opportunity cost of this economy moving from point Z to point Y is

• A) 0 lamps.
• B) 10 lamps.
• C) 10 notepads.
• D) 20 lamps.

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Definitions:

Current Account

A component of a country's balance of payments that measures the trade of goods and services, net earnings on investments, and transfer payments.

Goods Exports

The act of sending domestically produced goods to another country for sale or trade.

Current Account

A country's transactions with the rest of the world, including goods, services, income, and current transfers.

Net Inflow

Net inflow refers to the total incoming resources or capital minus the outgoing resources or capital in a particular time period.