Use the following to answer questions :
-(Table: The Production Possibilities for Tractors and Crude Oil) Look at the table The Production Possibilities for Tractors and Crude Oil. Both the United States and Mexico will gain from trade if one tractor trades for _____ barrels of oil.

Question

Use the following to answer questions : 
-(Table: The Production Possibilities for Tractors and Crude Oil) Look at the table The Production Possibilities for Tractors and Crude Oil. Both the United States and Mexico will gain from trade if one tractor trades for _____ barrels of oil.

Quizplus · Accepted Answer

The United States can produce 1,500 barrels of oil or 1 tractor. Mexico can produce 4,500 barrels of oil or 1 tractor. So, if one tractor trades for 1,500 barrels of oil, both countries will gain from trade.

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