Refer to the Above Diagrams

question 9

Multiple Choice

Refer to the above diagrams.The solid lines are production possibilities curves; the dashed lines are trading possibilities curves.The trading possibilities curves imply that:

• A)both countries are experiencing an excess of exports over imports which results in economic growth.
• B)the domestic production possibilities curves entail unemployment and/or the domestic misallocation of resources.
• C)world resources will be allocated more efficiently if the two nations specialize and trade in accordance with comparative advantage.
• D)both nations will be worse off as a result of international specialization and trade.

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Definitions:

Policy Administrator

An individual responsible for the implementation and management of policies within an organization.

Safety and Quality

Refers to the standards and practices aimed at preventing harm and ensuring the delivery of products and services that meet specified performance criteria.

Universal Set

In mathematics, a set that contains all the objects under consideration for a particular discussion or operation.

Positions of Authority

Roles or ranks within an organization or society that hold the power to make decisions, enforce rules, and influence others’ actions and behaviors.