Figure 3-3 Ice Cream Is Measured in Kilograms

question 97

Multiple Choice

Figure 3-3
Ice cream is measured in kilograms.
-Refer to Figure 3-3. Ben and Jerry were currently both producing at point A on their production possibilities frontier and then Ben decided he would be willing to trade 4 pounds of cones to get 2 pounds of ice cream from Jerry. If both decided to specialize in what they had a comparative advantage in and trade, what would be the gains from trade?

• A)1 pound of cones for Ben and 1 pound of ice cream for Jerry.
• B)1 pound of ice cream for Ben and 1 pound of cones for Jerry.
• C)2 pounds of ice cream for Ben and 2 pounds of cones for Jerry.
• D)2 pounds of ice cream for Ben and 1 pound of cones for Jerry.

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Definitions:

Economic Plan

A systematic strategy formulated to achieve financial growth or stability within a country, organization, or household.

Commercial Capitalists

Individuals or entities engaged in the buying, selling, and distribution of goods with the aim of profit, often influential in the development of the modern economic system.

Federal Government

The national government of a federation, which holds the authority to govern issues that affect the entire country, such as defense, foreign policy, and currency regulation.

Political Rhetoric

The art of persuasive speaking or writing, often utilized by politicians and public leaders to influence public opinion, advocate for policies, or articulate visions and ideals.