The Diagram Below Shows Two Production Possibilities Boundaries for Country

question 82

Multiple Choice

The diagram below shows two production possibilities boundaries for Country X.
FIGURE 1- 4
-If an economy exhibits the specialization of labour,we know that

• A)each worker is self- sufficient.
• B)most production is artisanal in nature.
• C)job security is ensured.
• D)a barter economy is more suitable.
• E)different individuals are producing different products.

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Definitions:

Current Account

A component of a country's balance of payments that includes the trade balance, net income from abroad, and net current transfers.

Imports

Products and services imported into a country from overseas to be sold.

Financial Assets

Assets that derive value because of a contractual claim, such as stocks, bonds, and bank deposits.

Current Account

A component of a country's balance of payments that measures the trade of goods and services, net earnings on investments, and transfer payments.