If a country can produce 10 of product A or 4 of product B the opportunity cost of 1B is ?

Related Mcqs:

1. A company is in the ________ stage of the new product development process when the company develops the product concept into a physical product in order to assure that the product idea can be turned into a workable product ?

   A. product development
   B. commercialization
   C. marketing strategy
   D. business analysis

2. R&D and engineering first produce the product concept into a physical product during which of the following stages of the new product development process ?

   A. Concept development and testing
   B. Marketing strategy
   C. Business analysis
   D. Product development

3. Assume that Country A is relatively abundant in labor and Country B is relatively abundant in land Note that wages are the returns to labor and rents are the returns to land According to the factor price equalization theorem, once Country A begins specializing according to comparative advantage and trading with Country B: A. wages and rents should fall in Country A B. wages and rents should rise in Country A C. wages should rise and rents should fall in Country A D. wages should fall and rents should raise in Country A ?

   XA. wages and rents should fall in Country A
   B. wages and rents should rise in Country A
   C. wages should rise and rents should fall in Country A
   D. wages should fall and rents should raise in Country A

4. A country has a comparative advantage in the production of a product if the good’s _____ cost in different from the good’s _____ cost in another country ?

   A. resource; resource
   B. foreign exchange money
   C. opportunity; opportunity
   D. money; opportunity

5. If the total product of two workers is 80 and the total product of 3 workers is 90 then the average product of the third worker is ________ and the marginal product of the third worker is _________?

   A. 160; 270
   B. 10; 30
   C. 10; 3.33
   D. 30; 10

6. If the international terms of trade settle at a level that is between each country’s opportunity cost ?

   A. There is no basis for gainful trade for either country
   B. Both countries gain from trade
   C. Only one country gains from trade
   D. One country gain and the other country loses from trade

7. The concept of opportunity cost ?

   A. is relevant only for a capitalist economy like the United States.
   B. Suggests a major increase in public health care spending means an expansion in other areas will be harder to achieve.
   C. Suggests all our wants can be achieved.
   D. Would be relevant if we eliminated poverty

8. The opportunity cost of a student is____________?

   A. Course fees and rent
   B. A loan from the bank
   C. What the student could have earned in the best job available by not studying
   D. What the student will earn after graduation

9. JCB (Which makes agricultural and construction equipment) has the opportunity to purchase a new factory today that will provide them with a Rs50 million return four years from now If prevailing interest rates are 6 percent, what is the maximum that the project can cost for JCB to be willing to undertake the project ?

   A. Rs 43,456,838
   B. Rs 53,406,002
   C. Rs 34,538,902
   D. Rs 39,604,682

10. The opportunity cost of holding money is determined by ?

    A. the discount rates
    B. the level of aggregate output
    C. the interest rates
    D. the inflation rates