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-Refer to the Above Table

question 133

Multiple Choice

-Refer to the above table. If opportunity costs are constant and both countries produce only the goods for which they have comparative advantages and then trade, hourly world output would equal

Definitions:

Better Off

A term indicating an improvement in condition or well-being, often referring to economic improvement or increased welfare.

Constant Rate

A fixed rate at which something occurs or is applied over a particular period of time.

Producing

The process of creating goods or services through the combination of labor, materials, and machinery to meet consumer demand.

Coolers

Devices or containers used to keep items cold or chilled.