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Autos and Chemicals Are in Units of One Million

Question 24

Multiple Choice

Autos and chemicals are in units of one million Autos and chemicals are in units of one million   Refer to the above tables.If Germany and the United States engage in trade,the terms of trade will be between: A)  3 and 4 units of autos for 1 unit of chemicals. B)  2 and 4 units of autos for 1 unit of chemicals. C)  2 and 4 units of chemicals for 1 unit of autos. D)  .33 and .5 unit of autos for 1 unit of chemicals. In Germany,1 auto = 2 chemicals and in the United States,1 auto = 4 chemicals.Therefore,the terms of trade will be 1 auto = (between) 2 to 4 chemicals. Refer to the above tables.If Germany and the United States engage in trade,the terms of trade will be between:


A) 3 and 4 units of autos for 1 unit of chemicals.
B) 2 and 4 units of autos for 1 unit of chemicals.
C) 2 and 4 units of chemicals for 1 unit of autos.
D) .33 and .5 unit of autos for 1 unit of chemicals.
In Germany,1 auto = 2 chemicals and in the United States,1 auto = 4 chemicals.Therefore,the terms of trade will be 1 auto = (between) 2 to 4 chemicals.

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