Suppose the United States can produce 2,000 cars or 2,000 trucks.Japan can produce either 2,000 cars or 1,000 trucks.In terms of car production,we can conclude that
A) Japan has an absolute advantage.
B) The United States has an absolute advantage.
C) The United States has a comparative advantage.
D) Japan has a comparative advantage.
Correct Answer:
Verified
Q52: Assume the United States and Australia have
Q53: Q54: Q55: Q56: Q58: Assume the United States and Canada have Q59: Suppose China can produce either 600 telephones Q60: The United States has an absolute advantage Q61: If the terms of trade between any Q62: Table 35.1 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
