Multiple Choice
The tiny nation of Tinian is extremely efficient in the mining of tin. However, its climate and terrain make it difficult to produce corn. According to the theory of comparative advantage, Tinian should
A) produce both tin and corn in order to remain self-sufficient.
B) watch the global market to see which product is bringing the highest price.
C) import the resources needed to produce corn.
D) concentrate its production on tin and buy corn from an efficient producer.
Correct Answer:

Verified
Correct Answer:
Verified
Q25: James's family business, J&J Interiors, sells and installs
Q26: You sell paint products and accessories for
Q27: Last year, the island nation of Winstone
Q28: Nicky Larson, a well-known American celebrity, promoted
Q29: A(n) _ refers to a complete ban
Q31: Halpert Hardware Pros, an American retail store,
Q32: An example of a U.S. import would
Q33: What is a benefit of contracting with
Q34: If a protective tariff is placed on
Q35: Shortly after graduating college, Roberto took his