Exhibit 19-1

-In Exhibit 19-1, the United States has an absolute advantage in the production of both rice and t-shirts.

Question

Exhibit 19-1
 
-In Exhibit 19-1, the United States has an absolute advantage in the production of both rice and t-shirts.

Quizplus · Accepted Answer

The exhibit does not provide information about any other country's production capabilities, but it does show that the United States can produce both rice and t-shirts with fewer resources or at a lower cost than it would take for another unit to produce them. Therefore, the United States has an absolute advantage in the production of both goods.

Exhibit 19-1 -In Exhibit 19-1, the United States Has an Absolute Advantage