Figure: United States Production Possibility Frontier
Suppose the figure illustrates the United States PPF for the production of corn and TVs. Which of the following statements is TRUE?
A) The United States should specialize in the production of corn, since they can produce more corn than TVs.
B) For each TV that the United States produces, it gives up 25 units of corn.
C) The United States should produce 50 TVs and 1,250 units of corn to maximize value to society.
D) The United States has the comparative advantage in the production of TVs.
Correct Answer:
Verified
Q101: Iceland produces two goods: Viking hats (Y)
Q102: Conan O'Brien hosts the Conan show and
Q103: Brazil and Canada trade two goods: bananas
Q104: Conan O'Brien hosts the Conan show and
Q105: Brazil and Canada trade two goods: bananas
Q107: The _ shows all combinations of goods
Q108: Which of the following is NOT true
Q109: Figure: Cars and Boats Q110: The slope of the production possibilities frontier Q111: Iceland produces two goods: Viking hats (Y)![]()
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents