If There Is No Trade, Which of the Following Is

question 201

Multiple Choice

If there is no trade, which of the following is most likely?

• A) A country is better off because it will become self-sufficient.
• B) A country's production possibilities frontier is also its consumption possibilities frontier.
• C) A country can still benefit from international specialization.
• D) A country has more product variety available.

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Definitions:

Board of Directors

A group of individuals elected by shareholders to oversee the management and make strategic decisions for a corporation.

Articles of Incorporation

Legal documents filed with a state government to legally establish a corporation.

Shareholder Approval

The process by which shareholders vote to approve or reject proposed actions by a corporation, often required for major decisions or changes.

Corporate Assets

Resources or valuables owned by a corporation, which can include cash, equipment, property, and intellectual property.