World Output Will Be Maximized If Each Country

question 78

Multiple Choice

World output will be maximized if each country

• A)attempts to be self-sufficient
• B)specializes in producing those goods in which it has a comparative advantage
• C)specializes in producing those goods in which it has an absolute advantage
• D)reduces its consumption possibilities
• E)specializes in producing those goods for which it has the lowest demand

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Definitions:

Private Property

Ownership of property (land, buildings, goods, etc.) by individuals or corporations legally recognized.

Public Use

The use of property or resources for the benefit or welfare of the general public or community.

State Governments

The governing bodies of individual states within a federal system, responsible for local law enforcement, education, and other public policies.

Executed

The carrying out of a sentence of death on a person convicted of a capital crime, or the completion of a planned or ordered process.