-In the Absence of Trade Between the Two Countries,the Price

question 208

Multiple Choice

$$~~~{ \text { United States } } ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ { \text { China } } \\\begin{array} { c c c c c } \text { Possibility } & \text { Radios } & \text { Rice } & \text { Radios } & \text { Rice } \\\text { A } & 200 & 0 & 300 & 0 \\\text { B } & 100 & 500 & 150 & 300 \\\text { C } & 0 & 1,000 & 0 & 600\end{array}$$
-In the absence of trade between the two countries,the price of rice in the U.S.in terms of radios would tend to be

• A)1/2.
• B)1/5.
• C)200.
• D)500.

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Definitions:

Honor

The act of fulfilling or adhering to an agreement, contract, or request, demonstrating integrity and respect.

Postdated Check

A check written with a date in the future, which cannot be cashed or deposited until that date.

Creditor

An individual or entity that is owed money or claims to be owed money by another entity, known as the debtor.

Bounced Check

A check that cannot be honored due to insufficient funds in the account it was issued on.