2023, Set 1, Question 2 · Short · 5 points
Two countries trading wheat and cloth
Read two production possibilities curves to decide who has the comparative advantage in each good and name trade terms that help both countries. Then judge whether a polluting competitive market is efficient and predict what a lump-sum tax does to price and quantity.
1 Read the question
The question is College Board's, from the 2023, Set 1 exam. It starts on page 4 of the PDF.
2 Write your answer
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3 Score it
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Scoring guidelines (PDF, page 6) What the exam readers saw (Chief Reader report)
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