Suppose Two Countries Have Similar Resources, Capital, and Skilled Labor

question 93

Multiple Choice

Suppose two countries have similar resources, capital, and skilled labor. If they produce more, the cost per unit of production for both goods declines as more goods are produced. The most efficient method to produce the products is for each country to

• A)produce some of each product and not trade with each other.
• B)specialize in one of the products and then trade extra production for the other product.
• C)specialize in one of the products but not trade extra production for the other product.
• D)produce some of each product and then trade with each other.
• E)specialize in both products while hoping the other country is not successful in its specialization.

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Definitions:

Jim Crow Justice

The system of laws and customs enforcing racial segregation and discrimination against African Americans, particularly in the southern United States, from the late 19th to the mid-20th century.

Arrested

The act of detaining someone legally as a suspect or because of having committed a criminal offense.

Privileged Backgrounds

Refers to individuals who come from socio-economically advantaged families, providing them with opportunities and advantages that are not available to everyone.

Southern

Pertaining to or characteristic of the South, a region in the United States known for its distinct cultural, historical, and social traits.