Opening trade between two nations would:

A. shift their production possibilities curves outward.
B. shift their production possibilities curves inward.
C. leave the production possibilities unchanged and increase their consumption possibilities.
D. leave the production possibilities unchanged and decreased their consumption possibilities.

Answer: C

Economics

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During the late 1960s, real GDP increased, unemployment fell, and the inflation rate started to rise. Which would have been the appropriate federal government policy combination to improve economic performance by lowering the inflation rate?

A) increase government expenditures, decrease taxes, increase the quantity of money B) increase government expenditures, decrease taxes, decrease the quantity of money C) decrease government expenditures, increase taxes, decrease the quantity of money D) do not change government expenditures or taxes , increase the quantity of money E) increase government expenditures, decrease taxes, do not change the quantity of money

Economics

Productivity measures: a. how efficiently resources are turned into goods and services

b. how efficiently goods and services are consumed by the consumers. c. the level of skills embodied in a unit of labor. d. the ratio of inputs to a specific amount of output. e. the availability of resources in an economy.

Economics