In the Following Table of Production Possibilities for a Country

question 12

Multiple Choice

In the following table of production possibilities for a country,
$\begin{array} { r r } \text { Good X } & \text { Good Y } \\\hline 400 \text { units } & 0 \text { units } \\300 \text { units } & 100 \text { units } \\200 \text { units } & 180 \text { units } \\100 \text { units } & 240 \text { units } \\0 \text { units } & 280 \text { units }\end{array}$
There are __________ opportunity costs when moving to greater production of good X And __________ when moving to greater production of good Y.

• A) increasing; decreasing
• B) decreasing; constant
• C) constant; increasing
• D) increasing; increasing

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Definitions:

Global Trade Agreements

Agreements between countries that regulate tariffs, trade barriers, and other aspects of international trade.

Trade Agreement

A negotiated pact between two or more nations that outlines the rules for trade between them, often aiming to reduce tariffs and other barriers to import and export.

Tariffs

denote taxes or duties imposed by governments on imported or, less commonly, exported goods, intended to control trade flows, protect domestic industries, or raise revenue.

Barriers

Impediments, obstacles, or hindrances that prevent progress or make achievement difficult in various contexts.