Which of the following correctly defines consumption possibilities? It is the maximum amount of goods and services produced by the country if the country were to not engage in international trade. It is the combination of goods and services that is available for consumption for a country if it engages in international trade. It is the maximum amount a country can import to other countries. It is the maximum amount of imported goods and services a country can consume.

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter28: International Trade
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Which of the following correctly defines consumption possibilities?
It is the maximum amount of goods and services produced by the country if the country were to not engage in international trade.
It is the combination of goods and services that is available for consumption for a country if it engages in international trade.
It is the maximum amount a country can import to other countries.
It is the maximum amount of imported goods and services a country can consume.
Transcribed Image Text:Which of the following correctly defines consumption possibilities? It is the maximum amount of goods and services produced by the country if the country were to not engage in international trade. It is the combination of goods and services that is available for consumption for a country if it engages in international trade. It is the maximum amount a country can import to other countries. It is the maximum amount of imported goods and services a country can consume.
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