Assume That by Devoting All Its Resources to the Production

question 329

True/False

Assume that by devoting all its resources to the production of X, nation Alpha can produce 20 units of X. By devoting all its resources to Y, Alpha can produce 30Y. Comparable figures for nation Beta are 60X and 40Y. There is no basis for trade between Alpha and Beta, because Beta has an absolute advantage in the production of both goods.

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Definitions:

Refusing

The act of denying or rejecting a proposal, request, or command.

Laughing

An involuntary response to certain external or internal stimuli, often associated with amusement, joy, or relief.

Internalization of Schemes

The process by which children absorb and integrate new information and experiences into their existing cognitive structures or schemas.

Months

units of time in the calendar, typically used to measure periods of about 30 days long, which together constitute a year.