John and Mary Work at a Bakery

question 101

Multiple Choice

John and Mary work at a bakery. John can decorate either 10 ice-cream cakes or 4 wedding cakes; Mary can decorate either 8 ice-cream cakes or 2 wedding cakes. According to this scenario

• A)the opportunity cost of decorating an ice-cream cake for John is 1/4 wedding cake.
• B)the opportunity cost of decorating an ice-cream cake for John is 2/5 wedding cake.
• C)the opportunity cost of decorating an ice-cream cake for John is 2.5 wedding cakes.
• D)the opportunity cost of decorating an ice-cream cake for John is 4 wedding cakes.

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Definitions:

Income Transfers

Payments made by the government to individuals without any expectation of goods or services being provided in return, aimed at redistributing wealth and reducing poverty.

National Defense

Governmental and military measures designed to protect a country from external aggression and threats.

National Defense

Activities and measures undertaken by a government to protect its country from external threats and ensure the safety of its citizens.

Government Expenditures

are the financial spending of government agencies on goods and services, including infrastructure, public welfare, and defense.