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This question was created from Twenty Questions From Exam 1.docx https://www.coursehero.com/file/64831402/Twenty-Questions-From-Exam-1docx/

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Fish (thousands of pounds per year) .5.............z...”.........:............. .......... ..................................................................... ............................................................... ........... French?” --------- 0 IOO 200 300 400 500
Wheat (thousands of bushels per year) 20) The figure above shows the production possibilities frontiers for the United Kingdom and France.
United Kingdom and France spend half of their time producing fish and wheat. After specialization,
suppose that France decided to keep 300 of wheat and trade the rest. Given that the terms of trade
(measured by the number of fish divided by the number of wheat) is 1, the gain to France of fish with
specialization and trade is: A) 50 of fish B) 100 of fish C) 200 of fish D) zero of fish

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