In a Production-Possibilities/indifference Curve Diagram Depicting the Movement of a Country

question 21

Multiple Choice

In a production-possibilities/indifference curve diagram depicting the movement of a Country from a situation of a uniform tariff against all trading partners to a situation of a Customs union with one trading partner,

• A) the country must necessarily move to a higher indifference curve after the formation Of the customs union.
• B) the country must necessarily move to a lower indifference curve after the formation of The customs union.
• C) home production of the country's export good will increase and home production of The country's import good will also increase after the formation of the customs Union.
• D) home production of the country's export good will increase and home production of The country's import good will decrease after the formation of the customs union.

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Definitions:

Task Analysis

The process of determining what the content of a training program should be on the basis of a study of the tasks and duties involved in the job.

Skills And Knowledge

The combined competencies and understanding one possesses, which are necessary for performing tasks and solving problems within their occupational area.

Implementation

The process of executing plans, strategies, or policies to achieve specific goals or bring a concept into action.

Knowledge, Skill, Ability

The set of theoretical understanding, practical expertise, and competency an individual has to perform tasks successfully.