In the Real World, Specialization Is Rarely Complete Because

question 187

Multiple Choice

In the real world, specialization is rarely complete because

• A) nations normally experience increasing opportunity costs in producing more of the product in which they are specializing.
• B) production possibilities curves are straight lines rather than curves bowed outward as viewed from the origin.
• C) one nation's imports are necessarily another nation's exports.
• D) international law prohibits monopolies.