Suppose That Spain Is Currently Producing 90 Units of Wine

question 16

Multiple Choice

Suppose that Spain is currently producing 90 units of wine and 10 units of cheese, but to produce 10 more units of cheese it must sacrifice 30 units of wine. Further, suppose that Portugal produces 45 units of wine and 45 units of cheese, but to produce 10 more units of cheese it must sacrifice only 10 units of wine. It can be concluded that

• A)neither country has an absolute advantage in the production of either wine or cheese.
• B)Portugal has an absolute advantage in both wine and cheese production.
• C)Spain has an absolute advantage in both wine and cheese production.
• D)more information is needed to conclude anything about absolute advantage in either country.
• E)Portugal has an absolute advantage in wine production and Spain has an absolute advantage in cheese production.

Recognize the characteristics and implications of separation anxiety disorder in children.

Identify and understand conduct disorders in children.

Outline the similarities between the roles of schools and parents in child development.

Examine strategies to motivate students and improve the classroom environment.

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Definitions:

Invoice Price

The price at which a product or service is sold, typically listed on an invoice as the cost before any discounts or allowances.

Credit Terms

Conditions under which credit is extended by a seller to a buyer, detailing the repayment period, interest rate, and other rules governing the borrowing.

Perpetual Inventory Method

An accounting method that continuously updates the inventory levels and cost of goods sold with each sale or purchase of inventory.

Credit Terms

Conditions under which credit will be extended to a customer, including payment due dates and any discounts for early payment.