The Chip-And-PIN Card Technology ________

question 30

Multiple Choice

The chip-and-PIN card technology ________.

• A) is widely used in the United States
• B) relies upon the use of infrared data transmission
• C) requires entry of the user's PIN number
• D) does not require replacement of existing POS terminals

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Definitions:

Production Possibilities

The various combinations of goods and services that can be produced by an economy given its available resources and technology, illustrating potential trade-offs and efficiency.

Comparative Advantage

An economic principle that states a country should produce and export goods for which it is more efficient at producing than other countries, and import goods that it is less efficient at producing.

Terms of Trade

The ratio of an index of a country's export prices to an index of its import prices, affecting the balance of trade.

Production Possibilities

The different combinations of goods and services that an economy can produce given its available resources and technology, typically represented by a curve.