Multiple Choice
Consider the following information, and assume that opportunity costs are constant: On one hand, residents of Country A can produce more corn in a year than residents of Country B, but they can produce computers at a lower opportunity cost than residents of country B. On the other hand, residents of country B can produce more computers in a year than residents of Country A, but they can produce corn at a lower opportunity cost than residents of country A. It can be concluded that residents of
A) Country A should produce corn and trade it for computers produced in Country B.
B) Country B should produce computers and trade them for corn produced in Country B.
C) Country A should produce computers and trade them for corn produced in Country B.
D) both countries should choose not to trade.
Correct Answer:

Verified
Correct Answer:
Verified
Q253: The selling of a good or service
Q254: One way tariffs differ from quotas is
Q255: Refer to the above table. If opportunity
Q256: Suppose that the opportunity cost of producing
Q257: For the United States since 1950, imports
Q259: The concept of "global competitiveness"<br>A) is not
Q260: In an hour Jane can solder 50
Q261: Comparative advantage is defined as<br>A) the ability
Q262: Import restrictions<br>A) can protect United States jobs
Q263: A tariff placed on a foreign good