Multiple Choice
Figure 16-1
Number of workers needed to produce one unit of each of the following goods:
-What can be said regarding comparative advantage in production for the two countries shown in Figure 16-1?
A) Colombia has a comparative advantage in producing both calculators and radios.
B) Korea has a comparative advantage in producing radios and Colombia has a comparative advantage in producing calculators.
C) Korea has a comparative advantage in producing both radios and calculators.
D) Neither country has a comparative advantage in producing radios.
E) Colombia has a comparative advantage only in producing radios.
Correct Answer:
Verified
Correct Answer:
Verified
Q20: A tariff<br>A)is usually set by domestic producers
Q21: The infant industry argument<br>A)is that governments should
Q22: If Canada began to export maple syrup
Q23: If a country begins to import a
Q24: When a nation begins to import a
Q26: If a nation begins to export a
Q27: Figure 16-4<br>Number of workers needed to produce
Q28: In an Israeli factory,each worker can produce
Q29: In a Mexican factory,each worker can produce
Q30: For each watch Switzerland produces,it gives up