If a worker in Chile earns 100 pesos per day producing four widgets and a worker in Bolivia earns 50 pesos per day producing 2 widgets, then:
A) unit labor costs are the same in both countries.
B) unit labor costs are lower in Chile.
C) unit labor costs are lower in Bolivia.
D) one cannot determine unit labor costs.
E) widgets should be produced in Venezuela.
Correct Answer:
Verified
Q2: If a nation X can produce both
Q3: By importing something which is cheaper internationally
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Q5: In a labor-abundant country, trade would tend
Q6: Latin America's abundant factor of production is:
A)
Q8: As of 2013, Latin America has a
Q9: If Brazil is a labor abundant country,
Q10: The effects of trade on the distribution
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