Author Question: Two countries, Alpha and Beta, have identical production possibilities frontiers illustrated above. ... (Read 143 times)

xclash

  • Hero Member
  • *****
  • Posts: 681
Two countries, Alpha and Beta, have identical production possibilities frontiers illustrated above. If Alpha produces at point a and Beta produces at point b, then ________.
 
  A) Beta's economic growth rate will exceed Alpha's
  B) Alpha consumes less than Beta today, but it will grow faster than Beta
  C) Alpha's and Beta's economic growth rates will be the same
  D) Beta's future consumption will be greater than Alpha's

Question 2

If a price hike of 5 percent increases the quantity demanded of another good by 2 percent, the goods must be ________ and the cross elasticity of demand equals ________.
 
  A) substitutes; 0.40
  B) substitutes; 2.5
  C) complements; 0.40
  D) complements; 2.5



abctaiwan

  • Sr. Member
  • ****
  • Posts: 355
Answer to Question 1

B

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

For a complete list of videos, visit our video library