Exam 3: Interdependence and the Gains From Trade

Table 3-35 -Refer to Table 3-35. Which good(s) does Denmark have an absolute advantage producing?

Figure 3-8 Chile's Production Possibilities Frontier Colombia's Production Possibilities Frontier -Refer to Figure 3-8. If the production possibilities frontiers shown are each for one day of production, then which of the following combinations of coffee and soybeans could Chile and Colombia together make in a given day?

Figure 3-16 Hosne's Production Possibilities Frontier Merve's Production Possibilities Frontier -Refer to Figure 3-16. If Hosne and Merve switch from each person dividing her time equally between the production of purses and wallets to each person spending all of her time producing the good in which she has a comparative advantage, then total production of purses will increase by

Table 3-41 -Refer to Table 3-41. What is England's opportunity cost of one radio?

Table 3-35 -Refer to Table 3-35. Finland's opportunity cost of producing 1 unit of ham is

When each person specializes in producing the good in which he or she has a comparative advantage, total production in the economy

Table 3-3 Production Opportunities -Refer to Table 3-3. Which of the following combinations of cheese and wine could France produce in 40 hours?