Refer to the Figure Shown,which Represents the Production Possibilities Frontiers

question 37

Multiple Choice

Refer to the figure shown,which represents the production possibilities frontiers for Countries A and B.After examining the production possibilities of each country,we can surmise that Country A's opportunity cost of a car:

• A)is lower than that of Country B,and so they should specialize in cars and trade.
• B)is higher than that of Country B,and so they should specialize in cars and trade.
• C)is the same as that of Country B,and so they will not benefit from trade.
• D)does not determine a country's decision to trade; it is absolute advantage that drives that decision.

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Definitions:

Industrial Societies

Societies characterized by the predominance of manufacturing and other forms of production where mechanization plays a significant role.

Class Differences

The distinctions that exist between various social classes, often highlighted by disparities in income, education, and cultural norms.

Upper Classes

Social groups situated at the top of the social hierarchy, often associated with wealth, power, and privilege.

Middle Classes

A social group that sits between the upper and working classes in terms of income, education, and occupational prestige, often considered the backbone of societal stability and progress.