Suppose There Are Two Countries,Freedonia and Sylvania,which Have Identical Amounts

question 83

Multiple Choice

Suppose there are two countries,Freedonia and Sylvania,which have identical amounts of resources,identical technologies,and identical populations.Both produce two types of goods,consumer goods and capital goods,and they both always operate on their production possibilities frontiers.The only difference is that this year Freedonia chooses to produce relatively more consumer goods than Sylvania.What will happen as a result

• A)Freedonia will have a higher living standard this year but will grow slower than Sylvania.
• B)Freedonia will have a higher living standard this year and will grow faster than Sylvania.
• C)Sylvania will have a higher living standard this year but will grow slower than Freedonia.
• D)Sylvania will have a higher living standard this year and will grow faster than Freedonia.

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Definitions:

Traffic Accidents

Incidents involving vehicles on public roads that result in damage, injury, or loss of life.

Poisson Distributed

A description of a distribution pattern that applies to events with a fixed interval of time or space, denoting the probability of a given number of events happening in a fixed interval.

Probability

A numerical assessment, between 0 and 1, representing the chance of an event taking place.

Poisson Random Variable

A type of random variable that expresses the probability of a given number of events happening in a fixed interval of time or space, assuming events occur with a known constant mean rate and independently of the time since the last event.