Multiple Choice
Figure 3-2 
-Refer to Figure 3-2. Which of the following is true for Cliff and Paul?
A) Paul has a comparative advantage in both wheat and corn.
B) Paul has an absolute advantage in wheat and Cliff has a comparative advantage in corn.
C) Cliff has a comparative advantage in wheat and Paul has a comparative advantage in corn.
D) Cliff has a comparative advantage in both wheat and corn.
Correct Answer:
Verified
Correct Answer:
Verified
Q17: Figure 3-5<br>These graphs illustrate the production possibilities
Q21: Table 3-2<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4795/.jpg" alt="Table 3-2
Q22: Suppose a producer can produce a product
Q23: What does comparative advantage reflect?<br>A)productivity.<br>B)relative opportunity cost.<br>C)efficiency.<br>D)terms
Q24: Table 3-6<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4795/.jpg" alt="Table 3-6
Q25: Suppose that a worker in Cornland can
Q27: Currently, a farmer can either grow 40
Q29: If there is no trade, which of
Q30: What is the difference between production possibilities
Q31: Figure 3-5 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4795/.jpg" alt="Figure 3-5