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Nations Will Be Able to Produce a Larger Joint Output

question 95

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Nations will be able to produce a larger joint output and realize mutual gains when each specializes in the production of those items for which it is a low-opportunity cost producer and trades for those things that it could produce only at a high cost. This statement best describes the


Definitions:

African Americans

A demographic in the United States identified by heritage from African black racial groups.

European Americans

Individuals in the United States who trace their ancestry back to Europe.

Tranquilizes

To calm or sedate, often referring to the use of medication to reduce anxiety or tension.

Underprivileged

Lacking the fundamental social, cultural, and economic resources, rights, and opportunities that are available to the majority of the population.

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