The Device Shown in the Figure Above, Used to Perform

question 84

Multiple Choice

The device shown in the figure above, used to perform multiplication and division, was called ____.

• A)an abacus
• B)an algorithm
• C)Napier's Bones
• D)a mechanical calculator

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Definitions:

Trading Possibilities Curve

A graph that shows the maximum amount of goods a country can produce, given its resources, and hence the possible extents of trade with other countries.

International Exchange Ratio

The rate at which the goods and services of one country can be traded for those of another.

Production Possibilities Curves

A graphical representation that shows the maximum possible output combinations of two goods or services an economy can produce given its available resources and technology.

Comparative Advantage

The proficiency of either a person, a company, or a country in crafting a good or providing a service, which comes at a lesser opportunity cost than that offered by rival parties.