In the two-commodity context, you are given the following information pertaining to country I in the year 2009 and the year 2014:
Production of good X in 2009 = 200 units
Production of good X in 2014 = 198 units
Consumption of good X in 2009 = 160 units
Consumption of good X in 2014 = 176 units
Production of good Y in 2009 = 100 units
Production of good Y in 2014 = 120 units
Consumption of good Y in 2009 = 120 units
Consumption of good Y in 2014 = 131 units
Given this information, this country, in 2009, is __________ and, in 2009, the country is __________.
A) exporting good Y and importing good X; exporting 20 units of good Y and
Importing 40 units of good X
B) exporting good Y and importing good X; exporting 11 units of good Y and
Importing 16 units of good X
C) exporting good X and importing good Y; exporting 40 units of good X and
Importing 20 units of good Y
D) exporting good X and importing good Y; exporting 16 units of good X and
Importing 11 units of good Y
Correct Answer:
Verified
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