The figure below shows the free-trade production and consumption in Country Y. AB is the production-possibility curve of Country Y. I1 is the community indifference curve of Country Y. Country Y imports
A. forty gallons of wine.
B. fifty gallons of wine.
C. seventy pounds of cheese.
D. twenty pounds of cheese.
Answer: B
You might also like to view...
During the Civil War (1861–1865), hyperinflation occurred in
(a) the North. (b) the South. (c) both the North and South. (d) neither the North nor the South.
If a firm experiences constant returns to scale throughout:
a. the long-run average-total-cost curve is negatively sloped. b. the short-run average-total-cost curves are tangential to the long-run average-total-cost curve at a point on their positively sloped portion. c. the short-run average-total-cost curves are tangential to the long-run average-total-cost curve at their minimum points. d. the short-run average-total-cost curves are tangential to the long-run average-total-cost curve at a point on their negatively sloped portion. e. the long-run average-total-cost curve is positively sloped.