True/False
Assume that by devoting all its resources to the production of X, nation Alpha can produce 40 units
of X. By devoting all its resources to Y, Alpha can produce 60Y. Comparable figures for nation Beta
are 60X and 40Y. Alpha would prefer terms of trade at, or close to, 1X = 1½Y.
Correct Answer:
Verified
Correct Answer:
Verified
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