A Movement from Point C to Point a in Figure

question 147

Multiple Choice

A movement from point C to point A in Figure 1.4 results in

• A)More efficient production.
• B)Permanent unemployment of workers producing plasma televisions.
• C)A reallocation of resources from smartphone production to television production.
• D)A reallocation of resources from television production to smartphone production.

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Definitions:

Protectionist

Referring to government policies or doctrines that protect domestic industries from foreign competition, often through tariffs and quotas.

Absolute Advantage

The ability of a country, region, or entity to produce a good or service more efficiently than its competitors, using fewer resources.

Produce

Refers to agricultural products and other raw goods that are grown or harvested.

Bushel

A unit of volume that is used in the United States for measuring agricultural commodities, such as grains and fruits.