According to the Following Table,if the US Trades 9 Bushels

question 30

Multiple Choice

According to the following table,if the US trades 9 bushels of wheat to the UK for 8 yards of cloth,the UK gains from trade equal:
$\begin{array}{|l|c|c|}\hline &\text { U.S. }&\text { U.K.} \\\hline \text {Wheat (bushels/hr) }& 9 & 3 \\\hline\text { Cloth (yards/hr) }& 5 & 4 \\\hline\end{array}$

• A)4 bushels of wheat
• B)3 yards of cloth
• C)4 yards of cloth
• D)3 bushels of wheat

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Definitions:

Governmental Resources

Assets, finances, and other resources controlled or owned by the government for public use and administration.

Allocative Efficiency

A state in which resources are allocated in a way that maximizes the net benefit to society or achieves the desired distribution among competing uses.

Productive Efficiency

Productive efficiency occurs when an economy or entity produces goods and services at the lowest possible cost, utilizing all available resources without waste.

MB = MC

The principle that optimal decision-making is achieved when the marginal benefit equals the marginal cost.