Assume That by Devoting All Its Resources to the Production

question 33

True/False

Assume that by devoting all its resources to the production of X,nation Alpha can produce 40 units of X.By devoting all its resources to Y,Alpha can produce 60Y.Comparable figures for nation Beta are,60X and 40Y.
-Refer to the above information.The terms of trade will be at or within the 1X = 1 1/2 Y to 1X= 2/3 Y range.

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Definitions:

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