The Maximum Production Possible in Rome and in Cathay Are

question 123

Multiple Choice

The maximum production possible in Rome and in Cathay are as follows:

-If each country is self-sufficient (no trade) and each allocates one half of its resources to producing each of the two products,what will be the output in each country?

• A)40 bread and 20 figs in Rome and 20 bread and 40 figs in Cathay.
• B)40 bread and 0 figs in Rome and 20 bread and 0 figs in Cathay.
• C)0 bread and 20 figs in Rome and 0 bread and 40 figs in Cathay.
• D)20 bread and 10 figs in Rome and 10 bread and 20 figs in Cathay.

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Definitions:

Categorical Data

Data that can be divided into groups or categories that are not numerically ordered.

Relative Data

Data that is compared to a certain reference point or to other data in order to assess its value or importance in relative terms.

Cumulative Data

Data that aggregates or accumulates over time, adding up as new data comes in to represent a total or sum.

Cumulative Percent

A statistical calculation that shows the percentage total of observations that fall below or at a specific value when data is arranged in ascending order.