Japan and China can both produce guns and rice.The country with the lowest opportunity cost of guns (in terms of rice) will
A) import guns.
B) have a comparative advantage in guns.
C) have an absolute advantage in guns.
D) have a comparative advantage in rice.
E) have both a comparative and absolute advantage in producing guns.
Correct Answer:
Verified
Q30: In Samoa the opportunity cost of producing
Q63: The main reason why one nation trades
Q71: If one nation can produce greater quantities
Q81: Assume that one day's labor in England
Q85: According to international trade theory, a country
Q85: If discussing trade,it is _ which matters,rather
Q88: In Bangladesh one person can produce 330
Q90: The difference between the price the seller
Q93: In Artland the opportunity cost of producing
Q98: One country will have a comparative advantage
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents