Use the following to answer questions: Table: Production in the United States and Germany
-(Table: Production in the United States and Germany) According to the table, which of the following statements is true?
A) The United States has a comparative advantage in clocks.
B) Germany has an absolute advantage in clocks and sofas.
C) The United States has a comparative advantage in sofas.
D) The United States has a comparative advantage in clocks and sofas.
Correct Answer:
Verified
Q63: Adam Smith advocated the benefits of:
A) protectionism.
B)
Q64: The principles of comparative advantage, specialization, and
Q66: Which of the following statements is TRUE?
A)
Q67: According to the theory of comparative advantage,
Q68: Use the following to answer questions:
Figure: Countries
Q71: Use the following to answer questions:
Figure: Countries
Q74: Absolute advantage is the ability to produce
Q75: Use the following to answer questions:
Figure: Countries
Q76: If labor in China is less productive
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