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Author Question: ________ a nation's production possibilities frontier represents economic growth. A) Moving up ... (Read 127 times)

rl

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on: Jun 29, 2018
________ a nation's production possibilities frontier represents economic growth.
 
  A) Moving up along B) An outward shift of
  C) An inward shift of D) Moving down along

Question 2

Critically evaluate the following statement. Only if a country enjoys an absolute advantage in the production of a particular good will that country find it beneficial to trade it with another country.
 
  What will be an ideal response?


cdmart10

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

Absolute advantage is not what governs trade. Trade occurs instead because of comparative advantage that one country might have over another in the production of a particular good or service.


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