Portugal specializes in the production of wine and produces 10 million bottles. The United Kingdom specializes in the production of cheese and produces 100 million pounds. If the terms of trade is 10 pounds of cheese for a bottle of wine and Portugal consumes 40 million pounds of cheese, then England consumes _____ million pounds of cheese and _____ million bottles of wine.
A) 40; 4
B) 40; 6
C) 60; 4
D) 60; 6
Correct Answer:
Verified
Q33: Which of the following statements is NOT
Q34: In the absence of trade, the consumption
Q35: Which of the following statements is true?
A)
Q36: Portugal specializes in the production of wine
Q37: Portugal specializes in the production of wine,
Q39: Portugal specializes in the production of wine
Q40: Portugal specializes in the production of wine
Q41: Portugal specializes in the production of wine
Q42: Portugal specializes in the production of wine
Q43: Refer to the figure Mutually Beneficial Trade
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