As the multiplier process works through time, the size of the multiplier effect becomes

Which of the following statements is (are) true?

A) A model is a set of simplifying assumptions about some aspect of the real world. B) Models are based on assumed conditions that are simpler than those of the real world. C) A model cannot be a complete representation of the real world. D) All of the above are true.

Refer to Table 9-12. Prior to trade, what was the opportunity cost to produce 1 sword in Estonia?

A) 1/3 of a belt B) 3/5 of a belt C) 1.67 belts D) 3 belts