Multiple Choice
Assume the United States and Canada have the same amount of resources.In a given time period,the United States can produce 3 tons of steel or 300 tons of wheat.Canada can produce 4 tons of steel or 400 tons of wheat.This means that
A) The United States has a comparative advantage in steel.
B) Canada has a comparative advantage in steel.
C) The United States has an absolute advantage in steel.
D) Canada has an absolute advantage in both steel and wheat.
Correct Answer:
Verified
Correct Answer:
Verified
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