Multiple Choice
Table 16.2
Table 16.2 shows the quantities of forks and knives that can be produced with the full amount of resources in each of two countries, Alpha and Beta.
-Using Table 16.2, which of the following statements is TRUE?
A) In Alpha, each fork produced costs one knife.
B) In Alpha, each fork produced costs three knives.
C) In Beta, each knife produced costs three forks.
D) In Beta, each fork produced costs one knife.
Correct Answer:

Verified
Correct Answer:
Verified
Q74: Trade is based on the principle of
Q75: What term is applied to the situation
Q76: Table 16.6<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB10969/.jpg" alt="Table 16.6
Q77: The purpose of the World Trade Organization
Q78: Table 16.4<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB10969/.jpg" alt="Table 16.4
Q80: If each country specializes according to its
Q81: The European Union is<br>A) a common market.<br>B)
Q82: If restrictions are placed on the textile
Q83: A country has an absolute advantage in
Q84: Goods and services produced domestically and sold