Over 95 percent of the total public debt is held by banks and private individuals.

Which of the following is not shown on a product possibilities curve?

(A) The opportunity cost of a decision to produce more of one good or service. (B) All of the goods and services an economy has the ability to produce. (C) The efficiency of an economy. (D) Whether an economy has grown or shrunk.

Assume, for England, that the domestic price of wine without international trade is lower than the world price of wine. This suggests that, in the production of wine,

a. England has a comparative advantage over other countries and England will export wine. b. England has a comparative advantage over other countries and England will import wine. c. other countries have a comparative advantage over England and England will export wine. d. other countries have a comparative advantage over England and England will import wine.