The Answer Is: "It Allows the Inhabitants of a Country

question 36

Multiple Choice

The answer is: "It allows the inhabitants of a country to consume at a level beyond its production possibilities frontier." What is the question?

• A)What do newly discovered resources do?
• B)What does technology do?
• C)What does specialization and international trade do?
• D)What does specialization do?

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Definitions:

Inflation

A universal surge in prices and a dip in the value of monetary assets.

Real GDP

The measure of a country's economic output adjusted for price changes or inflation.

Value Added

The increase in the value of a product or service as a result of a particular process, excluding the costs of raw materials and energy.

Intermediate Products

Intermediate products are goods that are used as inputs in the production of other goods or services, rather than being sold directly to consumers.