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Nation A’s real GDP was $520 billion in Year 1 and $550 bill…

Nation A’s real GDP was $520 billion in Year 1 and $550 billion in Year 2. Its population was 150 million in Year 1 and 155 million in Year 2. On the other hand, Nation B’s real GDP was $200 billion in Year 1 and $210 billion in Year 2; and its population was 53 million in Year 1 and 55 million in Year 2. Which of the following statements is true?

You have only 20 hours per week to use for either study time…

You have only 20 hours per week to use for either study time or fun time.  Suppose the relationship between study time, fun time, and grades is shown in this table: Fun time (hrs/week) 20 18 14 8 0 Study time (hrs/week) 0 2 6 12 20 Grade Point Average (GPA) 0 1.0 2.0 3.0 4.0 You really value your fun time.  You also need to maintain your grades to help you attain your future goals.   a) How much fun time will you have per week if your goal is a GPA of 3.0? (3pts) b) How does this table reflect opportunity cost?  Is it a realistic relationship?  Why or why not? (4pts) c) How might your allocation change if you worked less hours at your part-time job and you now have 30 hours to devote to fun and study? You can assume that you don’t need money to have fun! (3pts) d)  How are a country’s tradeoff different from an individual’s trade-offs?   Explain 2 challenges with allocation of resources that countries have to make (you can reference your discussion or article) (5pts)

Answer the question on the basis of the data given in the fo…

Answer the question on the basis of the data given in the following production possibilities table. Production Possibilities Alternatives A B C D E F Capital Goods 10   8   6   4   2   0 Consumer Goods   0 20 36 46 50 52 Refer to the table. If the economy is producing at production alternative C, the opportunity cost of the thirty-seventh unit of consumer goods will be approximately