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Ireland and Japan Are Assumed to Produce Only Wool and Steel,to

Question 45

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Ireland and Japan are assumed to produce only wool and steel,to have full employment and complete mobility of resources between industries.Their production possibilities boundaries before trade are drawn in solid lines.It is assumed that the two countries have the same amount of resources.Their consumption possibilities after trade are shown by the dotted lines.The outputs of wool and steel are given in physical units. Ireland and Japan are assumed to produce only wool and steel,to have full employment and complete mobility of resources between industries.Their production possibilities boundaries before trade are drawn in solid lines.It is assumed that the two countries have the same amount of resources.Their consumption possibilities after trade are shown by the dotted lines.The outputs of wool and steel are given in physical units.   FIGURE 32-1 Refer to Figure 32-1.The comparative advantage is held by A) neither country in either good. B) Japan in both goods. C) Ireland in both goods. D) Ireland in wool,Japan in steel. E) Ireland in steel,Japan in wool. FIGURE 32-1 Refer to Figure 32-1.The comparative advantage is held by


A) neither country in either good.
B) Japan in both goods.
C) Ireland in both goods.
D) Ireland in wool,Japan in steel.
E) Ireland in steel,Japan in wool.

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