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Author Question: According to Robert Zevin's 1971 study of textiles, the U.S. cotton textile industry had ____ ... (Read 102 times)

jake

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on: Jun 30, 2018
According to Robert Zevin's 1971 study of textiles, the U.S. cotton textile industry had ____ percent of the number of Britain's textile labor force, but produced ____ percent as much cotton.
 a. 80; 80
  b. 50; 80
  c. 50; 40
  d. 25; 40

Question 2

An economy producing at an interior point of its production possibility frontier is ___.
 a. efficient, the economy is producing the highest possible quantities of all the goods
  b. inefficient, because resources are not full employed.
  c. efficient, because the economy is producing goods at the lowest possible cost
  d. inefficient, because that combination of goods could be produced at a lower cost if more efficient technology were employed


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smrerig

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d. 25; 40

Answer to Question 2

b. inefficient, because resources are not full employed


jake

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Reply #2 on: Jun 30, 2018
Correct answers!


smrerig

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Reply #3 on: Jun 30, 2018
Great! Please up vote :D


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