Multiple Choice
If Irene can make either four chairs or one table in an hour and Greg can make either three chairs or two tables in an hour then
A) Irene has the absolute advantage in the production of chairs.
B) Irene has the comparative advantage in the production of tables.
C) Greg has the absolute advantage in the production of chairs.
D) Greg has the comparative advantage in the production of chairs.
Correct Answer:

Verified
Correct Answer:
Verified
Q23: John has decided to watch the sunrise
Q24: The principle of comparative advantage implies that<br>A)
Q25: Jose and Maria work at a restaurant.
Q26: How does an economy represented by a
Q27: The division of labor refers to<br>A) workers
Q29: An irrigation system is installed on a
Q30: In the above figure, points u, v,
Q31: Whenever a society forgoes current consumption to
Q32: For a country that produces two goods:
Q33: A waitress brings a free glass of