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) Country Y has a comparative advantage in producing textiles.
B) Country X has a comparative advantage in producing ice cream.
C) Country X has a lower opportunity cost of producing ice cream than does Country Y.
D) In Country X, the opportunity cost of producing a gallon of ice cream is three yards of textiles.
Correct Answer:
Verified
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)
