The Following Diagrams Show the Production Possibilities Boundaries for Austria

question 82

Multiple Choice

The following diagrams show the production possibilities boundaries for Austria and Switzerland,for the production of bicycles and shoes. FIGURE 32-2 Refer to Figure 32-2.The diagrams illustrate that Switzerland

• A)has an absolute advantage in the production of bicycles.
• B)has a comparative advantage in the production of shoes.
• C)has an absolute advantage in the production of shoes.
• D)has a higher consumption of bicycles than Austria.
• E)has a comparative advantage in the production of bicycles.

Identify the types of welfare benefits and their calculation, including means-tested and contributory benefits.

Grasp the changes and motivations behind welfare policies and reforms since the 1990s.

Understand the concept of forced savings programs and the difference between Medicare and Medicaid.

Recognize the role of federal legislation in shaping welfare and educational policies.