Use the Information Below to Answer the Following Questions

question 44

Multiple Choice

Use the information below to answer the following questions.
Fact 2.4.2
Agnes can produce either 1 unit of X or 1 unit of Y in an hour, while Brenda can produce either 2 units of X or 4 units of Y in an hour.
-Refer to Fact 2.4.2. Which one of the following statements is true?

• A)Brenda has an absolute advantage over Agnes in the production of both goods.
• B)Agnes has a comparative advantage in the production of Y.
• C)Brenda has a comparative advantage in the production of X.
• D)Brenda will not gain from trade.
• E)Agnes will not gain from trade.

Identify factors influencing voter participation and the composition of the electorate.

Examine the relationship between socio-economic status and political participation.

Understand the function and implications of the electoral college in presidential elections.

Analyze the impact of election laws and regulations, including voter ID requirements, on voter turnout and demographic participation.

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Definitions:

Grain Surplus

An excess amount of grain production over the demand, leading to stored or wasted grain.

Market Economy

An economic system where decisions regarding investment, production, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.

Price Floor

A government-set minimum price that can be charged for goods and services, aimed at protecting producers.

Equilibrium Price

The price at which the quantity of goods supplied matches the quantity of goods demanded.