Poverty is defined in two ways: the absolute concept of poverty and the relative concept of poverty.

Use the following table to answer the question below. Giovanni's Production Possibilities ScheduleRuby's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn0160032040120102408080201601204030801600400The terms of trade for 1 pound of green beans must lie between ________ and ________ pounds of corn.

A. 1, 8 B. 1, 4 C. 1/8, 1 D. 1/8, 2

Recall the Application about the attempt to form a salt cartel in the 19th century to answer the following question(s).According to the Application, what created local salt monopolies in the early 19th century?

A. High transportation costs that prevented competition. B. Government regulation. C. Local labor unions in salt mines. D. High taxes on salt that crossed state borders.