If Two Nations Have Straight-Line Production Possibilities Curves

question 277

Multiple Choice

If two nations have straight-line production possibilities curves,

• A) then their trading possibilities curves must lie inside the production possibilities curves.
• B) there will be no basis for mutually advantageous trade.
• C) there will be a basis for mutually advantageous trade whether the slopes are equal or not.
• D) there will be a basis for mutually advantageous trade provided the slopes differ.

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Definitions:

Accepts Himself

The recognition and acknowledgment of oneself with all strengths, weaknesses, successes, and failures.

Affected

Influenced or touched by an external factor, or displaying emotions artificially.

Personal Responsibility

The idea that individuals are accountable for their actions and decisions, and must take ownership of the consequences that come from those actions and decisions.

Successes

Achievements of an aim or goal, generally bringing a sense of accomplishment and pride to the individual or group involved.