Question 8 Assume that country X produces two goods-sugar and shoes-and that the country's production possibility curve is "bowed-out." As the country produces more sugar the opportunity cost of sugar in terms of shoes foregone will:
Question 8 Assume that country X produces two goods-sugar and shoes-and that the country's production possibility curve is "bowed-out." As the country produces more sugar the opportunity cost of sugar in terms of shoes foregone will:
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter3: Interdependence And The Gains From Trade
Section: Chapter Questions
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![Question 8
Assume that country X produces two goods-sugar and shoes-and that the country's production
possibility curve is "bowed-out." As the country produces more sugar the opportunity cost of sugar.
in terms of shoes foregone will:
O remain unchanged.
O increase.
decrease.
initially increase and then decrease..
Question 9
A production possibilities curve that is a straight line represents the case of
O constant costs.
O constant opportunity costs but decreasing real costs.
O constant opportunity costs but increasing real costs.
O increasing costs.
Question 10
If country A is relatively land-abundant and country B is relatively labor-abundant, the Heckscher-
Ohlin theory predicts that country A will export textiles (a relatively labor-intensive good) and
country B will export corn (a relatively land-intensive good).
O True
O False](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbcc89786-2f59-4554-aaf4-a608c2ed3da4%2Fac694aa9-1718-4c4e-a700-55a404074e54%2Fto1sir9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 8
Assume that country X produces two goods-sugar and shoes-and that the country's production
possibility curve is "bowed-out." As the country produces more sugar the opportunity cost of sugar.
in terms of shoes foregone will:
O remain unchanged.
O increase.
decrease.
initially increase and then decrease..
Question 9
A production possibilities curve that is a straight line represents the case of
O constant costs.
O constant opportunity costs but decreasing real costs.
O constant opportunity costs but increasing real costs.
O increasing costs.
Question 10
If country A is relatively land-abundant and country B is relatively labor-abundant, the Heckscher-
Ohlin theory predicts that country A will export textiles (a relatively labor-intensive good) and
country B will export corn (a relatively land-intensive good).
O True
O False
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