The relative costs of two goods produced by two countries can be determined by comparing the ________ of their ________.
A) slopes; supply curves
B) prices; domestic production
C) slopes; production possibilities curves
D) their absolute efficiencies; production
Ans: C) slopes; production possibilities curves
Economics
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When deflation occurs,
A) the nominal interest rate is equal to the real interest rate and inflation is positive. B) the real interest rate is greater than the nominal interest rate. C) the nominal interest rate is equal to the real interest rate and inflation is negative. D) the nominal interest rate is greater than the real interest rate.
Economics
The condition of scarcity:
a. cannot be eliminated. b. prevails in poor economies. c. prevails in rich economies. d. All of these.
Economics