Which of the Following Is True

question 148

Multiple Choice

Which of the following is true?

• A) The production possibilities curve indicates that it will be impossible to expand total output with the passage of time.
• B) As long as resources are scarce, output cannot be increased.
• C) The size of the economic pie is fixed, and therefore, if one individual has more income, others must have less.
• D) Over time, the output of goods and services can be increased through human ingenuity and discovery of better ways of doing things.

Discuss the benefits of free trade for the world economy and identify major trade barriers.

Understand the concept and significance of the eurozone and its impact on member countries.

Comprehend the principle of comparative advantage and its relevance to international trade.

Identify and discuss the reasons and implications of offshoring production activities.

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Definitions:

Savant Syndrome

An uncommon disorder characterized by individuals with major cognitive impairments displaying skills greatly surpassing the norm.

Autism Spectrum

A range of neurodevelopmental conditions characterized by challenges with social skills, repetitive behaviors, and communication, with varying degrees of severity.

Creative Intelligence

A facet of intelligence involving the ability to deal with new and different concepts and to come up with innovative solutions to problems.

Emotional Intelligence

The ability to perceive, understand, manage, and use emotions.