Table 351 Based on the Information in Table 35

question 118

Multiple Choice

Table 35.1 $$\begin{array} { | l | c | c | } \hline { \text { Country } } & \text { Tons of Soybeans } & \text { Computer } \\\hline \text { China } & 100 & 300 \\\hline \text { United States } & 150 & 750 \\\hline\end{array}$$ Based on the information in Table 35.1,assume China and the United States have the same amount of resources with which to produce soybeans and computers and they produce no other goods.The output of computers and soybeans would be greatest if

• A)China specialized in producing soybeans,and the United States specialized in producing computers.
• B)Both countries prohibited trade.
• C)China specialized in producing computers,while the United States specialized in producing soybeans.
• D)The United States produced both goods and exported them to China.

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Definitions:

Quantity Supplied

The total amount of a product that producers are willing to sell at a given price within a specific time frame.

Export

The act of sending goods or services from one country to another country for sale or trade.

Comparative Advantage

The ability of a country or individual to produce a particular good or service at a lower opportunity cost than others.

Production Possibilities

The different mixes of products and services that a country can generate considering its accessible resources and current technology.