With one hour of labor time nation A can produce either 3X or 3Y,while nation B can produce either 1X or 3Y (and labor is the only input) .If 3X is exchanged for 3Y:
A) nation A gains 2X
B) nation B gains 6Y
C) nation A gains 3Y
D) nation B gains 3Y
Correct Answer:
Verified
Q2: If with one hour of labor time
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A)free trade
B)stimulating the
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A) running trade surpluses
B)
Q7: With one hour of labor time nation
Q7: Ricardo explained the law of comparative advantage
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Q12: If with one hour of labor time
Q14: If nation A can produce 5 units
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