If Country a Exports Good X to Country B and Country

question 1

Multiple Choice

If country A exports good X to country B and country B exports good Y to country A, it is most likely that

• A) A has an absolute advantage in the production of good X.
• B) B has a comparative advantage in the production of good Y.
• C) the opportunity cost of domestic production of good Y for country A is lowered with trade.
• D) B is producing less of good Y than in the no-trade case.

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Definitions:

Custody

The legal right or duty to care for someone, typically a child, including making decisions about their welfare and control over their daily life.

Miranda Rights

Miranda Rights are a set of constitutional rights read to a suspect in police custody, ensuring they are aware of their rights to silence and legal counsel.

Constitutional Rights

Rights protected under the federal constitution that guarantee individual freedoms and legal protections.

Court Of Law

A court in which the only remedies were things of value, such as money. Historically, in England, courts of law were different from courts of equity.