Figure 3-6 Maxine's Production Possibilities Frontier

question 56

Multiple Choice

Figure 3-6
Maxine's Production Possibilities Frontier
Daisy's Production Possibilities Frontier
-Refer to Figure 3-6.If Maxine and Daisy each divides her time equally between making pies and making tarts,then total production is

• A)6 pies and 10 tarts.
• B)7.5 pies and 3 tarts.
• C)7.5 pies and 10 tarts.
• D)13.5 pies and 13 tarts.

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Definitions:

Shares Outstanding

The total number of shares of a corporation that are currently owned by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company’s officers and insiders.

Mill Rates

The amount of tax payable per dollar of the assessed value of a property, used in calculating local property taxes.

Assessed Value

The dollar value assigned to a property for purposes of taxation by the government.

PST

Provincial Sales Tax, which is a tax levied by individual provinces in Canada.