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Hello, I need some help with my macro econ course. Any help is great! Katy Perry and Calvin Harris are lost in the Amazon wilderness.
Hello, I need some help with my macro econ course. Any help is great!
- Katy Perry and Calvin Harris are lost in the Amazon wilderness. The only two edible items they are able to find are bananas and crickets. Calvin is able to catch 40 crickets in a day if he spends his entire day hunting them down. If he picks bananas all day he can collect 10. Katy is much better at picking bananas. If she spends her entire day picking bananas, she can pick 30. If she spends her entire day hunting down crickets, she can find 60.
Both Katy Perry and Calvin Harris can choose to produce any linear combination above.
Who has the absolute advantage at harvesting crickets and bananas, respectively?
A. Katy, Calvin
B. Katy, neither
C. Calvin, Calvin
D. Katy, Katy
E. Neither, Calvin
- (2) Gross Domestic Product or GDP includes
A. Foreign produced goods and services
B. Used goods
C. Volunteer hours
D. All of the answers are correct
E. None of the above
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