A Country That Is Half as Productive at Producing Some

question 63

True/False

A country that is half as productive at producing some goods as another country, but is one quarter as productive at producing others, will not be able to gain from trade.

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Definitions:

Sensory Information

Data that is collected by the senses (sight, smell, touch, taste, and hearing) and sent to the brain for processing, interpretation, and response.

External World

Everything that exists outside the mind, including physical objects, events, and other people, as perceived through the senses.

Information Processing Model

A cognitive approach that compares human thinking to computer processing, emphasizing the way information is encoded, stored, and retrieved.

Encoding

The process by which information is transformed into a form that can be stored in memory.