The nation of Pineland forbids international trade.In Pineland,you can buy 1 pound of fish for 2 pounds of pineapples.In other countries,you can buy 1 pound of fish for 1.5 pounds of pineapples.These facts indicate that
A) Pineland has a comparative advantage, relative to other countries, in producing fish.
B) other countries have a comparative advantage, relative to Pineland, in producing pineapples.
C) the price of pineapples in Pineland exceeds the world price of pineapples.
D) if Pineland were to allow trade, it would import fish.
Correct Answer:
Verified
Q1: A logical starting point from which the
Q2: Which of the following is not an
Q3: The nation of Falconia forbids international trade.In
Q4: The market for corn in Wheatland consists
Q4: A tariff is a
A)limit on how much
Q14: The principle of comparative advantage asserts that
A)not
Q15: The price of sugar that prevails in
Q136: A tax on an imported good is
Q466: With which of the Ten Principles of
Q479: An important factor in the decline of
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