Without trade, the consumption possibilities for two nations are: ...

[Ebrown]

Without trade, the consumption possibilities for two nations are:
 a. outside their production possibilities curve.
  b. inside their production possibilities curve.
  c. along their production possibilities curve.
  d. at a point equal to the world production possibilities curve.

Question 2

Real income is the purchasing power of nominal (money) income.
 a. True
  b. False
  Indicate whether the statement is true or false

[stanleka1]

Answer to Question 1

c

Answer to Question 2

True