Multiple Choice
The production possibilities schedules and curves for farms in Idaho and Iowa are shown below.
________ has the absolute advantage in producing alfalfa and ________ has the absolute advantage in producing corn.The state with the lower opportunity cost for producing a ton of alfalfa is ________,so the state with the comparative advantage in producing alfalfa is ________.
A) Idaho; Idaho; Idaho; Idaho
B) Idaho; Iowa; Idaho; Idaho
C) Iowa; Idaho; Iowa; Iowa
D) Iowa; Iowa; Iowa; Iowa
Correct Answer:
Verified
Correct Answer:
Verified
Q225: The following figure shows the demand curve,
Q226: The following figure shows the demand curve,
Q227: The following figure shows the demand curve,
Q228: The following figure shows the demand curve,
Q229: The following figure shows the demand curve,
Q231: Two countries,A and B,produce Good X.Which of
Q232: Scenario: You learned in the textbook that
Q233: Which of the following statements is true?<br>A)
Q234: The following figure shows the production possibilities
Q235: How are the domestic sellers and buyers