Once a Nation Has Been Producing a Good or Service

question 18

Multiple Choice

Once a nation has been producing a good or service for some time,

• A)its supply curve for that product is vertical
• B)its supply curve for that product is horizontal at the world price
• C)it often develops a comparative advantage in producing that good or service
• D)its moves along its production possibilities frontier and produces more of it
• E)its production possibilities frontier shifts outward

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Definitions:

Triglycerides

A type of fat (lipid) found in your blood, used by the body for energy, and an indicator of metabolic health.

Carbohydrate-digesting Enzyme

An enzyme that catalyzes the breakdown of carbohydrates into simpler sugars, facilitating digestion and energy extraction.

Amylase

An enzyme, found chiefly in saliva and pancreatic fluid, that converts starch and glycogen into simple sugars.

Elastase

An enzyme that breaks down elastin, an important protein in connective tissue which provides elasticity.