Exhibit 18-1
-In Exhibit 18-1, the opportunity cost of 1 t-shirt in the United States is
A) 0
B) 1/2 ton of rice
C) 3/4 ton of rice
D) 1 ton of rice
E) 2 tons of rice
Correct Answer:
Verified
Q28: In New Zealand one worker can produce
Q41: The basis for international trade is
A)established trade
Q45: Exhibit 18-1 Q47: World output will be maximized if each Q47: Exhibit 18-1 Q49: International trade does all the following except Q51: Comparative advantage is determined by Q56: To maximize worldwide gains from trade, the Q60: The source of gains from trade is Q64: One reason for international specialization in production
A)allow
A)the amount of
A)tariffs
B)self-sufficiency
C)autarky
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