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Essay about Information system

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Question 1 1 out of 1 points According to the graph below, if a country is currently producing at point X, the opportunity cost of producing another consumer good is Selected Answer: 20 capital goods Answers: 20 capital goods More than 20 capital goods Fewer than 20 capital goods 20 consumer goods Fewer than 20 consumer goods Question 2 1 out of 1 points The basic economic problem of all countries is the existence of Selected Answer: Limited resources and unlimited wants Answers: Tax increases and budget deficits Limited resources and unlimited wants Unemployment and inflation Government and private industry Unions and monopoly firms …show more content…

Which of the following is true if Alexis can type faster than Frank? Selected Answer: Alexis has comparative advantage in being a lawyer but not in typing Answers: Alexis has absolute advantage in being a lawyer, but comparative advantage in typing Alexis has comparative advantage in being a lawyer but not in typing Alexis has an absolute and a comparative advantage in both activities. Frank has an absolute advantage and a comparative advantage in both activities Frank has an absolute and a comparative advantage in typing but not in being a lawyer Question 10 1 out of 1 points The table below shows the number for hours necessary for Art to individually install a computer or to paint a garage, and for Bruce to individually install a computer or to paint a garage. Art Bruce Install computer 2 hours

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