Multiple Choice
Suppose that Korea produces shoes and soccer balls. Which of the following is correct?
A) It should specialize in the product in which it has an absolute advantage.
B) It would NOT be possible to have an absolute advantage in both goods.
C) It would be difficult to benefit from trade since Korea is efficient in the production of both goods.
D) The opportunity cost of shoes will be the inverse of its opportunity cost of soccer balls.
Correct Answer:
Verified
Correct Answer:
Verified
Q36: Suppose a gardener produces both green beans
Q37: Figure 3-3<br>Ice cream is measured in kilograms.
Q38: On what is trade based?<br>A)absolute advantage.<br>B)comparative advantage.<br>C)production
Q39: Table 3-4<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4795/.jpg" alt="Table 3-4
Q40: Figure 3-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4795/.jpg" alt="Figure 3-4
Q42: Table 3-5<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4795/.jpg" alt="Table 3-5
Q43: Rusty can edit 2 pages in one
Q45: Table 3-6<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4795/.jpg" alt="Table 3-6
Q110: Two countries can achieve gains from trade
Q161: Figure 3-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7554/.jpg" alt="Figure 3-2