Use the Figure for the Question(s)below

question 19

Multiple Choice

Use the figure for the question(s) below.
-The above screen shot from Google Finance shows the basic stock information for Kraft Foods Inc.after the close of the stock market on May 30,2008.What is the highest that the stock has traded at in the last 12 months?

• A)$32.44
• B)$32.48
• C)$32.99
• D)$35.29
• E)$32.84

Identify the effects of specialization and trade on a country's production and consumption.

Analyze the impact of world price changes on imports and exports.

Distinguish between absolute and comparative advantage in international trade.

Recognize the fallacies associated with low-wage labor and its implications for trade.

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Definitions:

Utility Maximization

A theory in economics asserting that individuals aim to achieve the highest level of satisfaction or utility through their choices, given their resources.

Limited Budget

A financial constraint that limits the amount of money available for spending or investing.

Marginal Utilities

refers to the additional satisfaction or utility gained by consuming one more unit of a good or service.

Money Income

Money income includes the total earnings received by an individual or household in the form of wages, salaries, benefits, and returns on investments over a period.