Table 16.6
Table 16.6 shows the combinations of quantities of two goods, gallons of ice cream and yards of textiles, that can be produced with all of the resources available in two countries, X and Y.
-Refer to Table 16.6. Which of the following statements is TRUE?
A) advantage in producing both goods.
B) Country X has an absolute cost of producing a yard of textiles is three gallons of ice cream.
C) In Country Y, the opportunity cost of producing a yard of textiles is two gallons of ice cream.
D) In Country X, the opportunity Country Y has an absolute advantage in producing both goods.
Correct Answer:
Verified
Q39: Which one of the following is FALSE?
A)
Q40: Which one of the following is FALSE?
A)
Q41: Which one of the following is FALSE?
A)
Q42: Which one of the following is TRUE?
A)
Q43: An infant industry is one in which
A)
