Multiple Choice
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) These two countries can gain from trade.
B) Country X can gain from trade; Country Y will lose.
C) Country Y can gain from trade; Country X will lose.
D) Neither of these countries has a comparative advantage in ice cream.
Correct Answer:
Verified
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