Use the Table Below to Answer the Following Question

question 110

Multiple Choice

Use the table below to answer the following question.
Table 2.1.4
Consider the following production possibilities for a student for the typical week:
-Refer to Table 2.1.4.Complete the following sentence.The production possibilities frontier in the table shows

• A)increasing opportunity cost.
• B)learning-by-doing.
• C)constant opportunity cost.
• D)under-utilization of resources.
• E)decreasing opportunity cost.

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Definitions:

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than others, leading to trade benefits.

Terms Of Trade

The ratio of a country's export prices to its import prices, affecting the volume of goods a country can import for a given level of exports.

Exchange Rate

The value of one currency expressed in terms of another, determining how much of one currency can be exchanged for another.

Leading Import

The most significant or highest-valued good or service that a country imports from another country.