The following table indicates the production possibilities of food and clothing per worker day in the United States and South Korea.

Which of the following is true?
A)Mutual gains from trade could be realized if the United States specialized in clothing production and South Korea in production of food.
B)South Korean workers are the low-cost producers of clothing.
C)Mutual gains could be realized if the United States specialized in producing food and South Korea in producing clothing.
D)U.S.workers are the high-cost producers of clothing.

Question

The following table indicates the production possibilities of food and clothing per worker day in the United States and South Korea.

Which of the following is true?
A)Mutual gains from trade could be realized if the United States specialized in clothing production and South Korea in production of food. 
B)South Korean workers are the low-cost producers of clothing. 
C)Mutual gains could be realized if the United States specialized in producing food and South Korea in producing clothing. 
D)U.S.workers are the high-cost producers of clothing.

Quizplus · Accepted Answer

The Answer of The following table indicates the production possibilities of food and clothing per worker day in the United States and South Korea.

Which of the following is true?
A)Mutual gains from trade could be realized if the United States specialized in clothing production and South Korea in production of food. 
B)South Korean workers are the low-cost producers of clothing. 
C)Mutual gains could be realized if the United States specialized in producing food and South Korea in producing clothing. 
D)U.S.workers are the high-cost producers of clothing.

The Following Table Indicates the Production Possibilities of Food and Clothing