Tom and Jerry Have Two Tasks to Do All Day

question 1

Multiple Choice

Tom and Jerry have two tasks to do all day: make dishes and build fences.If Tom spends all day making dishes,he will have make 16 dishes.If he instead devotes his day to building fences,Tom will build 4 fences.If Jerry spends his day making dishes,he will make 14 dishes; if he spends the day building fences,he will build 7 fences.Based on their production possibilities frontiers,Tom and Jerry:

• A) can both benefit from trade because absolute advantage exists.
• B) could both benefit from trade because comparative advantage exists.
• C) cannot benefit from trade because Tom has the absolute advantage in both goods.
• D) will not decide to trade because no comparative advantage exists.

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Definitions:

Schizophrenia

A profound mental health condition characterized by major anomalies in thinking, feeling, self-conception, expressive language, perception, and behavior.

Delusion

A false belief held with strong conviction despite superior evidence to the contrary, often of a paranoid or bizarre nature and associated with psychiatric conditions.

Bulimia Nervosa

An eating disorder characterized by cycles of binge eating followed by purging, excessive exercise, or fasting to prevent weight gain.

Neurotransmitter

Chemical substances that transmit signals across a synapse from one neuron to another in the brain and nervous system.