Multiple Choice
(Figure: Home Production and Consumption) The figure gives Home's international trading pattern. Point P is production with trade and point C is consumption with trade. How many units of which product does Home export and how many units of which product does it import? 
A) Home exports 60 units of chemicals and imports 20 units of clothing.
B) Home exports 40 units of chemicals and imports 60 units of clothing.
C) Home exports 40 units of clothing and imports 20 units of chemicals.
D) Home exports 20 units of chemicals and imports 40 units of clothing.
Correct Answer:
Verified
Correct Answer:
Verified
Q55: As nations trade, their total level of
Q56: Assume that, in autarky, an economy has
Q57: In the absence of trade, a nation
Q58: (Figure: International Trade Equilibrium) Assume that the
Q59: (Table: United States and China Production per
Q61: Home has a comparative advantage in wheat,
Q62: If the international terms of trade settle
Q63: At some point, as the price of
Q64: Chile and Argentina each produce jellybeans and
Q65: It is possible to determine how much