Table 16.5
Table 16.5 shows the labor input required to produce a fixed quantity of product A and a fixed quantity of product B in each of two countries.
-In Table 16.5, if trade is allowed between the two countries
A) country X will produce product A and country Y will produce product B.
B) country X will produce product B and country Y will produce product A.
C) country X will refuse to trade with country Y since country X has an absolute advantage.
D) country Y will refuse to trade with country X since country Y has an absolute advantage.
Correct Answer:
Verified
Q19: Restrictions on the amount of cotton that
Q20: The organization that settles trade disputes between
Q21: The European Union is
A) a common market.
B)
Q22: The free trade zone in which the
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