Refer to Table 7-6. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many swords will Morocco gain compared to the "without trade" numbers?

Ceteris paribus, how does an expansion in the United States affect U.S. net exports?

What will be an ideal response?

Opportunity cost:

a. applies only to consumption decisions. b. applies only to production decisions. c. is the same as monetary costs. d. exists because of scarcity. e. is irrelevant for wealthy economies.