Multiple Choice
If a society's consumption possibilities are identical to its production possibilities,that society has a(n)
A) closed economy.
B) open economy.
C) one-person economy.
D) absolute advantage in both goods and services.
E) free trade policy.
Correct Answer:

Verified
Correct Answer:
Verified
Q130: Use the following scenario to answer the
Q131: Consider a country that produces shoes and
Q132: Consider a country that is open to
Q133: Which country has the world's biggest economy?<br>A)
Q134: An economy that does not trade with
Q136: When a foreign supplier sells a good
Q137: Imagine two countries,Peteland and Arlenia.Peteland is producing
Q138: Use the following scenario to answer the
Q139: The following table identifies the real value
Q140: In 2011,60 percent of goods imported by