In Terms of Production Possibilities Curves, the Benefits of Trade

question 70

Multiple Choice

In terms of production possibilities curves, the benefits of trade between two nations is that each nation moves to:

• A) a lower standard of living.
• B) a more expansive consumption possibilities combination.
• C) a higher standard of living.
• D) a lower consumption possibilities combination.

---

Definitions:

Intrastate Trucking Company

A company that operates trucks only within the boundaries of a single state, not crossing any state lines.

Lost In A Fire

Describes items, possessions, or assets that have been destroyed or severely damaged due to a fire incident.

Voidable Title

A situation in which the transfer of title to property can be invalidated due to certain circumstances like fraud or misrepresentation.

Obtained By Fraud

Acquisition of property, assets, or benefits through deceptive practices, misrepresentation, or other dishonest means.