Which of the following nations has experienced the highest average annual rate of growth of per capita real GDP since 1990?

When drawing a production possibilities frontier, which of the following is held constant?

A) the amount of money in the economy B) the available factors of production and the state of technology C) the prices of goods and services D) the quantity of the goods and services that are produced E) None of the above because nothing is held constant when drawing the production possibilities frontier.

Refer to the figure above. Which of the following explains the impact on the domestic buyers and sellers when the country opens to free trade?

A) Both the sellers and the buyers are made worse off. B) Both the sellers and the buyers gain. C) The domestic firms lose but the buyers gain. D) The domestic firms gain but the buyers lose.