$\text {Table \(35.1\)}$ $\text {Full-Employment Output of Goods}$ Based on the Information in Table 35

question 131

Multiple Choice

$\begin{array}{|c|c|c|}\hline \text { Country } & \text { Tons of Sovbeans } & \text { Computers } \\\hline \text { China } & 100 & 300 \\\hline \text { United States } & 150 & 750 \\\hline\end{array}$

$\text {Table \(35.1\) }$
$\text {Full-Employment Output of Goods}$
Based on the information in Table 35.1, assume China and the United States have the same amount of resources with which to produce soybeans and computers and they produce no other goods.The output of computers and soybeans would be greatest if

• A)China specialized in producing soybeans, and the United States specialized in producing computers.
• B)Both countries prohibited trade.
• C)China specialized in producing computers, while the United States specialized in producing soybeans.
• D)The United States produced both goods and exported them to China.

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Definitions:

Delegation

A contracting party’s (a delegator’s) transfer of his or her duty to perform to a third party who is not part of the original contract (a delegatee).

Parol Evidence Rule

A common law rule that states that oral evidence of an agreement made prior to or contemporaneously with a written agreement is inadmissible when the parties intend the written agreement to be the complete and final version of their agreement.

Parol

Relating to or given by word of mouth; not in writing or formalized in documents.

Parol Evidence Rule

A rule in contract law that prevents parties from presenting evidence of prior or contemporaneous agreements that would contradict the written terms of the contract.