Match the terms on the left with the definition in the column on the right

Match:
1 A) B) C) D) E) F) G) H) Mercantilism 2 A) B) C) D) E) F) G) H) Labor productivity 3 A) B) C) D) E) F) G) H) Absolute advantage 4 A) B) C) D) E) F) G) H) Opportunity cost 5 A) B) C) D) E) F) G) H) Principle of comparative advantage 6 A) B) C) D) E) F) G) H) Relative price 7 A) B) C) D) E) F) G) H) Arbitrage 8 A) B) C) D) E) F) G) H) Production-possibility curve (ppc)			Answer choices for questions 1 through 8 A) the number of units of output that a worker can produce in one hour. B) the amount of production of another product that is give up when one additional unit of a product is produced. C) the ratio of one product price to another product price. D) the philosophy that guided European thinking about international trade in the several centuries before Adam Smith published his Wealth of Nations in 1776. E) when a country is able to produce a good at absolutely lower labor costs that the rest of the world. F) shows all combinations of amounts of different products than an economy can produce with full employment of its resources and maximum feasible production of these resources. G) A country will export the goods and services that it can produce at a low opportunity cost and import the goods and services that it would otherwise produce at a high opportunity cost. H) buying at a low price in one place and selling at a high price in another place.