The Accompanying Table Gives Maximum-Output Alternatives for Brazil and Poland

question 301

Multiple Choice

The accompanying table gives maximum-output alternatives for Brazil and Poland. It can be seen that if the two nations open up trade with each other, then

• A)Brazil will specialize in producing machines and import wine.
• B)Poland will specialize in producing machines and import wine.
• C)Poland will export wine.
• D)Brazil will not gain from specializing and trading, but Poland will gain.

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Definitions:

Antipoverty Programs

Government or organizational initiatives designed to reduce or eliminate poverty by providing assistance to the needy through services or financial aid.

Public Good

A good or service provided at no cost to every person in a society, delivered by either state institutions or a nonprofit private individual or organization.

Government Intervention

Actions taken by a government to affect the economy, which can include regulations, subsidies, tariffs, and taxes.

Excludable

A characteristic of a good whereby it is possible to prevent people from enjoying the good unless they have paid for it.