Exhibit 19-2
-In Exhibit 19-2, the opportunity cost of a ton of rice in the United States is
A) 0
B) 1/3 of a t-shirt
C) 1/2 of a t-shirt
D) 1 t-shirt
E) 2 t-shirts
Correct Answer:
Verified
Q21: In autarky,
A)each country's consumption possibilities are the
Q30: Whenever the opportunity costs of goods are
Q40: Exhibit 19-1 Q41: The basis for international trade is Q42: The opportunity cost of producing one car Q45: Absolute advantage Q46: A country should export only those goods Q47: World output will be maximized if each Q48: The rate at which two countries trade Q58: A nation's consumption possibilities frontier is
A)established trade
A)is the same as comparative advantage
B)implies
A)always the
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