Multiple Choice
Graph 3-2 
These figures illustrate the production possibilities available to Amy and Jim with 8 hours of labour.
-According to Graph 3-2, if Amy and Jim both specialise in the good in which they have a comparative advantage, total consumption of coffee and total consumption of doughnuts will be _____ respectively.
A) 20 and 4
B) 4 and 20
C) 16 and 7
D) 7 and 16
Correct Answer:
Verified
Correct Answer:
Verified
Q114: Graph 3-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8859/.jpg" alt="Graph 3-2
Q115: Comparative advantage is based on:<br>A)capital costs<br>B)labour costs<br>C)dollar
Q116: Graph 3-1<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8859/.jpg" alt="Graph 3-1
Q117: Graph 3-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8859/.jpg" alt="Graph 3-2
Q118: Imports arise because:<br>A)the importing country can produce
Q120: The principle of comparative advantage was developed
Q121: Differences in opportunity cost and comparative advantage
Q122: Table 3-3<br> <span class="ql-formula" data-value="\begin{array}{|l|c|c|c|c|}\hline&\text
Q123: Table 3-1<br> <span class="ql-formula" data-value="\begin{array}{|l|c|c|c|c|}\hline&\text
Q124: Table 3-4<br> <span class="ql-formula" data-value="\begin{array}{|l|c|c|c|c|}\hline&\text