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

question 22

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 were unrestricted trade and specialization according to the law of comparative advantage:

• A) the United States would export X and import Y.
• B) Canada would export X.
• C) the United States would import both X and Y.
• D) Canada would import both X and Y.

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Definitions:

Communication Medium

The method or tool used to deliver messages between sender and receiver, including email, phone, and face-to-face conversations.

Voice Mail

A system that records incoming telephone messages, enabling callers to leave audio messages for recipients to listen to later.

E-mail

A method of exchanging digital messages over the Internet using electronic devices.

Demeaning Stereotypes

Over-simplified and offensive assumptions about groups of people that degrade their dignity or status in society.