Use the Following to Answer Question(s): Production Possibilities Schedule for Two

question 81

Multiple Choice

Use the following to answer question(s) : Production Possibilities Schedule for Two Commodities

-(Exhibit: Production Possibilities Schedule for Two Commodities) Assuming constant costs in the neighborhood of their current levels of production, the exhibit shows the number of units of commodity X each country would have to forgo to produce the additional units of commodity Y indicated.Further assume that the only input is labor and that it remains fully employed.If there is no trade between the United States and Canada, the costs of X and Y are such that:

• A) X is cheaper than Y in both the United States and Canada.
• B) Y is cheaper in the United States and X is cheaper in Canada.
• C) X costs the same amount as Y in the United States.
• D) X costs the same amount as Y in Canada.

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Definitions:

Short-term Memory

A cognitive function where a limited amount of information is held temporarily for use in ongoing tasks.

Displacement

In psychology, displacement is a defense mechanism that involves shifting feelings from an uncomfortable or threatening target to a more acceptable or less threatening one.

Consolidation

The neurological process by which memories become stabilized and stored in long-term memory after initial acquisition.

Decoding

The process of interpreting and understanding communication symbols and texts, often used in the context of reading and language comprehension.