Tip Can Write 2 Pages of Term Paper or Solve

question 26

Multiple Choice

Tip can write 2 pages of term paper or solve 2 workbook problems in an hour, while Spot can write 2 pages of term paper or solve 6 workbook problems in an hour.If they each decide to work a total of 8 hours and to share their output, then if they produce as many pages of term paper as possible given that they produce 14 workbook problems,

• A)Tip will spend all of his time writing term papers and Spot will spend some time at each task.
• B)Spot will spend all of his time writing term papers and Tip will spend some time at each task.
• C)Spot will write term papers only and Tip will do workbook problems only.
• D)both students will spend some time at each task.
• E)Tip will write term papers only and Spot will do workbook problems only.

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Definitions:

Output Per Worker

The average quantity of goods and services produced per employee in a given time period.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, often measured by GDP growth.

Simon Kuznets

A Ukrainian-American economist who made significant contributions to the study of economic growth, the development of the concept of Gross National Product, and the statistical analysis of economic cycles.

Automobile Industry

A sector of the economy that deals with the design, production, and selling of motor vehicles.