Multiple Choice
If with one hour of labor time nation A can produce either 3X or 3Y while nation B can produce either 1X or 3Y (and labor is the only input) :
A) nation A has a comparative disadvantage in commodity X
B) nation B has a comparative disadvantage in commodity Y
C) nation A has a comparative advantage in commodity X
D) nation A has a comparative advantage in neither commodity
Correct Answer:
Verified
Correct Answer:
Verified
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Q2: In the trade between a small and
Q3: Which of the following statements is true?<br>A)The
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Q11: Ricardo explained the law of comparative advantage