In a Two-Person,two-Good Economy,the Benefits of Labour Specialization Will Be

question 36

Multiple Choice

In a two-person,two-good economy,the benefits of labour specialization will be larger when

• A) one person has an absolute advantage in both goods.
• B) neither person has an absolute advantage.
• C) both persons have identical absolute advantages.
• D) the difference in their respective opportunity costs is large.
• E) the difference in their respective opportunity costs is small.

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Definitions:

Fibrous Joints

Joints made of connective tissue containing many fibers, which are mainly involved in providing stability and allowing little to no movement between bones.

Skull

The bone structure forming the head, protecting the brain and supporting the facial structure.

Breastplate

A piece of armor covering the chest, used historically by soldiers for protection in battle.

Rib Cage

The set of bones surrounding the chest that protects vital organs such as the heart and lungs.