Assume the United States Can Use a Given Amount of Its

question 60

Multiple Choice

Assume the United States can use a given amount of its resources to produce either 20 airplanes or 8 automobiles and Japan can employ the same amount of its resources to produce either 20 airplanes or 10 automobiles. The U.S. should specialize in

• A) airplanes.
• B) automobiles.
• C) both goods.
• D) neither good.

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Definitions:

Natural Resources

Materials or substances occurring in nature which can be exploited for economic gain, such as minerals, forests, water, and arable land.

Megacities

Urban areas with a population exceeding 10 million people, typically experiencing significant economic, social, and infrastructural challenges and opportunities.

Estimated

Roughly calculated or approximated based on available information or data.

Planet

A celestial body orbiting a star or stellar remnant that is massive enough to be rounded by its own gravity, but not massive enough to cause thermonuclear fusion.