Multiple Choice
Figure 3-1 
-Refer to Figure 3-1. Assume that Cliff and Paul were both producing wheat and corn, and each was dividing their time equally between the two. Then they decide to specialize in the product they have a comparative advantage in. What would happen to the total production of corn?
A) It would increase by 1 bushel.
B) It would increase by 3 bushels.
C) It would increase by 5 bushels.
D) It would increase by 7 bushels.
Correct Answer:
Verified
Correct Answer:
Verified
Q35: What did Adam Smith believe about trade?<br>A)
Q36: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7554/.jpg" alt=" -Refer to Table
Q37: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7554/.jpg" alt=" -Refer to Table
Q38: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7554/.jpg" alt=" -Refer to the
Q39: Trade is based on absolute advantage.
Q41: If it takes Canadian workers fewer hours
Q42: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7554/.jpg" alt=" -Refer to Table
Q43: If there is trade, which of the
Q44: Figure 3-3<br>Ice cream and cones are measured
Q45: What is David Ricardo's contribution?<br>A) He wrote