Suppose That the Total Production of an Economy Consists of 10

question 62

Multiple Choice

Suppose that the total production of an economy consists of 10 billion oranges and 5 billion candy bars,each orange sells for $0.20,and each candy bar sells for $1.00.What is the market value of production in this economy?

• A) $1 billion.
• B) $2 billion.
• C) $5 billion.
• D) $7 billion.
• E) $11 billion.

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Definitions:

Non-standard Work

Employment that deviates from traditional norms in terms of hours, permanency, or contract conditions, often lacking in job security and benefits.

Divergent Thinking

A thought process or method used to generate creative ideas by exploring many possible solutions.

Convergent Thinking

A cognitive process in which the focus is directed at arriving at a single, correct solution to a problem.

Optimality Theory

A conceptual framework in linguistics that hypothesizes that observable forms of language arise from the interaction between conflicting constraints.