Table 2-12 Table 2-12 Shows the Number of Labor Hours

question 148

Multiple Choice

Table 2-12
Table 2-12 shows the number of labor hours required to produce a canoe and a sailboat in Guatemala and Honduras.
-Refer to Table 2-12. What is Guatemala's opportunity cost of producing one sailboat?

• A) 1/6 of a canoe
• B) 2/3 of a canoe
• C) 3 canoes
• D) 6 canoes

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Definitions:

Least Squares Regression

A statistical method used to find the best-fitting line through a set of points by minimizing the sum of the squares of the vertical distances of the points from the line.

Calories

Calories are units of energy used to quantify the amount of energy stored in food and how much energy is utilized by the body.

Sugar

A sweet-tasting, soluble carbohydrate found in many plants, which is commonly used as a sweetener in food.

Slope

The measure of the steepness or incline of a line, defined as the ratio of the vertical change to the horizontal change between two points on the line.