The World Price of a Pound of Almonds Is $4

question 110

Multiple Choice

The world price of a pound of almonds is $4.50. Before Uruguay allowed trade in almonds, the price of a pound of almonds there was $3.00. Once Uruguay began allowing trade in almonds with other countries, Uruguay began

• A)exporting almonds and the price per pound in Uruguay remained at $3.00.
• B)exporting almonds and the price per pound in Uruguay increased to $4.50.
• C)importing almonds and the price per pound in Uruguay remained at $3.00.
• D)importing almonds and the price per pound in Uruguay increased to $4.50.

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Definitions:

Full Capacity

The maximum level of output that a company can sustain over a long period without increasing maintenance costs or causing wear and tear on its production assets.

Fixed Assets

Long-term tangible assets held for business use and not expected to be converted to cash in the upcoming fiscal year, such as buildings, machinery, and equipment.

Full Capacity

The maximum level of output that a company can sustain over a long period without increasing its production resources or incurring excessive stress on its production processes.

Region of Residence

Refers to the specific geographic area where an individual currently lives or resides.