Multiple Choice
Table 1 shows the units of output a worker can produce per month in Australia and Korea. ?
?
Refer to table 1. Prices of electronics can be stated in terms of units of food. What is the range of prices of electronics for which both countries could gain from trade? The price must be greater than:
A) 1/5 of a unit of food but less than 1/4 of a unit of food.
B) 4 units of food but less than 5 units of food.
C) 1/4 of a unit of food but less than 1/2 of a unit of food.
D) 2 units of food but less than 4 units of food.
Correct Answer:

Verified
Correct Answer:
Verified
Q1: If an economy is operating on its
Q1: Comparative advantage, not absolute advantage, determines the
Q2: Table 1 shows the units of
Q3: Which of the following statements is true?<br>A)
Q4: Exhibit 2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7553/.jpg" alt="Exhibit 2
Q5: Exhibit 3 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7553/.jpg" alt="Exhibit 3
Q7: Which of the following statements about import
Q8: Suppose a country's workers can produce 4
Q9: Suppose the world price is below the
Q11: Exhibit 2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7553/.jpg" alt="Exhibit 2