11. If Portugal has a total of 180 man-hours of resources available for production, while England has only 120, what are the resource costs of wine and cloth? a) wine costs 2 man-hours/bottle and cloth 6 man-hours/yard in Portugal. b) wine costs 1 man-hour/bottle and cloth is 1 man-hour/yard in England. c) cloth costs 4 man-hours/yard and wine 2 man-hours/bottle in Portugal. d) wine costs 1/2 yards/bottle and cloth 2 bottles/yard in Portugal.
 11. If Portugal has a total of 180 man-hours of resources available for production, while England has only 120, what are the resource costs of wine and cloth? a) wine costs 2 man-hours/bottle and cloth 6 man-hours/yard in Portugal. b) wine costs 1 man-hour/bottle and cloth is 1 man-hour/yard in England. c) cloth costs 4 man-hours/yard and wine 2 man-hours/bottle in Portugal. d) wine costs 1/2 yards/bottle and cloth 2 bottles/yard in Portugal.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter22: Inflation
Section: Chapter Questions
Problem 18RQ: What is deflation?
Related questions
Question

11. If Portugal has a total of 180 man-hours of resources available for production, while England has only 120, what are the resource costs of wine and cloth?
a) wine costs 2 man-hours/bottle and cloth 6 man-hours/yard in Portugal.
b) wine costs 1 man-hour/bottle and cloth is 1 man-hour/yard in England.
c) cloth costs 4 man-hours/yard and wine 2 man-hours/bottle in Portugal.
d) wine costs 1/2 yards/bottle and cloth 2 bottles/yard in Portugal.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax