Multiple Choice
Suppose that the cost of producing 1 unit of wine in Happy Island is 2 units of rice and in Joy Island,1 unit of wine costs 4 units of rice.What does this mean for the two countries?
A) Happy Island should specialize in and export rice to Joy Island.
B) Happy Island should specialize in and export wine to Joy Island.
C) Happy Island should specialize in rice but export wine to Joy Island.
D) Happy Island should specialize in wine but export rice to Joy Island.
Correct Answer:
Verified
Correct Answer:
Verified
Q75: Below is the total market demand and
Q76: Table 13.14 shows the output of kumquats
Q77: Below is the productivity per worker (kilos
Q78: Below is the total market demand and
Q79: Table 13.14 shows the output of kumquats
Q81: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5692/.jpg" alt=" -Refer to table
Q82: Below is production possibilities data for the
Q83: Refer to the data above to answer
Q84: Below is a graph illustrating the market
Q85: Table 13.2 shows the production possibilities curves