Suppose that one hour of labor in Singapore can produce 20 computers or 40 cellphones. Further, suppose that one hour of labor in Ireland can produce 10 computers or 15 cellphones. _____ has a comparative advantage in the production of computers. _____ has a comparative advantage in the production of cellphones.
A) Singapore; Singapore
B) Ireland; Ireland
C) Singapore; Ireland
D) Ireland; Singapore
Correct Answer:
Verified
Q2: A Korean-made washing machine purchased by a
Q3: An import is a good or service:
A)purchased
Q4: An export is a good or service:
A)purchased
Q5: Argentina and Chile both produce copper and
Q6: Russia and Kazakhstan both produce horses and
Q8: One hour of labor in Mexico can
Q9: Countries benefit from trade by exporting goods
Q10: Countries benefit from trade by importing goods
Q11: (Table: U.S. International Trade in Goods and
Q12: (Table: U.S. International Trade in Goods and
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