Solved

Suppose That Trade Occurs

Question 72

Multiple Choice

Suppose that trade occurs. Each country completely specializes and 500 kegs of beer are traded for 500 bottles of whiskey. What is the international price of beer?


A) 1 bottle of whiskey = 1 keg of beer
B) 3 bottles of whiskey = 1 keg of beer
C) 2/3 bottle of whiskey = 1 keg of beer
D) 1 bottle of whiskey = 3 kegs of beer

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions