Multiple Choice
Figure 16-4
Number of workers needed to produce one unit of each of the following goods:
-In Figure 16-4,which of the following is true?
A) Gains from trade are possible if Korea produces radios and Colombia produces calculators.
B) No gains from trade are possible since neither country has an absolute advantage in producing both radios and calculators.
C) Gains from trade are not possible if Korea produces calculators and Colombia produces radios.
D) No trade will occur because neither country has a comparative advantage in producing either good.
E) No trade will occur because neither country has a comparative advantage in producing both radios and calculators.
Correct Answer:
Verified
Correct Answer:
Verified
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