Assume That Two Countries (Home and Foreign) Each Produce Two

question 77

Multiple Choice

Assume that two countries (Home and Foreign) each produce two goods (corn and wheat) under constant cost production. Home produces 0.5 ton of corn or 1 ton of wheat with a day of labor. Without trade (in autarky) , Home's daily production is 20 tons of wheat and 10 tons of corn. How large is Home's labor force?

• A) 50 workers
• B) 40 workers
• C) 30 workers
• D) 20 workers

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Definitions:

Appropriation

In law, the unauthorized use of someone's name, likeness, or other personal attributes for commercial gain.

Intentional Act

An action performed with the specific intent to achieve a certain result or outcome, especially relevant in the context of legal liability.

Severe Emotional Distress

A mental suffering or anguish induced by incidents of harm or injury, which can form the basis for a personal injury lawsuit if caused by someone else's negligent or intentional actions.

Embezzling Funds

The act of wrongfully taking or appropriating money or assets entrusted to one's care, typically in a position of employment or trust, for personal use.