Use the Following to Answer Questions

question 50

Multiple Choice

Use the following to answer questions:
Scenario: Countries A and B
Two countries, A and B, produce two goods, wheat (W) and steel (S) . Each has a linear production possibility frontier in both goods. If country A spends all of its available resources to produce wheat, it can produce 500 tons of wheat and no steel. If it uses all of its resources to produce steel, it can produce 250 tons of steel and no wheat. If country B spends all of its available resources producing wheat, it can produce 400 tons of wheat, and if it spends all of its resources on the production of steel, it can produce 400 tons of steel.
-(Scenario: Countries A and B) Look at the scenario Countries A and B. If countries A and B both specialize and trade:

• A)only country A will gain.
• B)only country B will gain.
• C)country A and country B will gain if they both specialize in the good in which they have a comparative advantage.
• D)neither country will gain.

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Definitions:

Symbolic Ethnicity

A form of ethnicity where attachment to certain ethnic traits occurs in a symbolic or superficial manner without the deep cultural practices.

Viking Outfit

A costume or attire replicating the clothing worn by the Vikings, historically recognized people from Scandinavia during the Viking Age.

Institutional Racism

A form of racism expressed in the practice of social and political institutions, embedded in policies, laws, and practices that harm certain racial groups.

WASPs

An acronym for White Anglo-Saxon Protestants, a sociocultural group in the United States characterized by their historical wealth, social status, and influence.