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.
-Refer to Table 16.5. If both countries produce only one good and then trade, world output would equal
A) 200 units of product A and 100 units of product B.
B) 100 units of product A and 200 units of product B.
C) 100 units of product A and 50 units of product B.
D) 100 units of product A and 100 units of product B.
Correct Answer:
Verified
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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