Multiple Choice
The following data outline production choices (A or B) in two nations, Gamma and Sigma. Each nation has a workforce of 10.
-Assume that before specialization and trade,each nation devoted half of its workforce to each product.If these two nations fully specialize in accordance with comparative advantage,the total gains from specialization would be:
A) 200 units of tea and 200 pots
B) 400 pots
C) 400 units of tea
D) 400 units of tea and 400 pots
E) 600 units of tea and 600 pots
Correct Answer:

Verified
Correct Answer:
Verified
Q2: The following are domestic supply and
Q3: The terms of trade reflect the:<br>A)rate at
Q4: Trade based upon comparative advantage is economically
Q5: Ceteris paribus,a tariff is:<br>A)superior to an import
Q6: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2615/.jpg" alt=" -If this economy
Q7: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2615/.jpg" alt=" -The size of
Q8: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2615/.jpg" alt=" -Given free trade,that
Q9: The following data outline production choices
Q10: The following are domestic supply and
Q11: In effect,tariffs on imports are:<br>A)special taxes on