Multiple Choice
Assume that China has a comparative advantage in producing corn and exports corn to Japan.We can conclude that
A) China also has an absolute advantage in producing corn relative to Japan.
B) China has a lower opportunity cost of producing corn relative to Japan.
C) Japan has an absolute disadvantage in producing corn relative to China.
D) labor costs are higher for corn producers in Japan than in China.
Correct Answer:
Verified
Correct Answer:
Verified
Q25: Table 9-6<br>Output per hour Production and Production<br>of
Q176: The first example used to explain comparative
Q177: Table 9-6<br>Output per hour Production and Production<br>of
Q178: NAFTA refers to a 1994 agreement that
Q179: The process of countries becoming more open
Q181: Figure 9-1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Figure 9-1
Q182: Free trade refers to trade between countries
Q183: Figure 9-1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Figure 9-1
Q184: Table 9-3<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Table 9-3
Q185: Which of the following is the best