Use the Production Possibilities Data Below to Answer the Following

question 142

Multiple Choice

Use the production possibilities data below to answer the following question(s) .
Table 2-3
Refer to Table 2-3. The farmer and the rancher both could benefit if the farmer were to specialize in

• A) meat and the rancher were to specialize in potatoes.
• B) potatoes and the rancher were to specialize in meat.
• C) neither good and the rancher were to specialize in both goods.
• D) none of the above; they cannot both benefit by specialization and trade.

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Definitions:

Flood-control Projects

Initiatives aimed at managing or preventing the overflow of rivers, lakes, or oceans, to protect land and property.

Economic Grounds

The basis or rationale for decisions and actions based on economic factors, such as cost, benefits, and economic efficiency.

Highway Programs

Government initiatives aimed at the construction, maintenance, and expansion of road networks for public use.

Public Good

A non-profit provision of services or products to the entirety of a society, facilitated by either public authorities or private parties.