Author Question: The table above lists six points on the production possibilities frontier for grain and cars. What ... (Read 99 times)

ahriuashd · **on:** Jun 29, 2018

The table above lists six points on the production possibilities frontier for grain and cars. What is the opportunity cost of producing the 26th car?

A) 2 tons of grain per car
B) 4 tons of grain per car
C) 0.25 tons of grain per car
D) 0.5 tons of grain per car

Question 2

The following data show Uruguay's GDP using purchasing power parity in billions of dollars.

Year 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP() 26.1 25.8 23.3 24.3 27.9 30.1 33.9 37.2 40.2

Using the data, we can conclude that
A) Uruguay's economy reached a peak in 2000.
B) GDP per person in Uruguay almost doubled between 2000 and 2008.
C) potential GDP in Uruguay doubled between 2000 and 2008.
D) Uruguay's economy was entered a recession in 2008.