The table below shows units of wheat and cloth produced by each worker per day in both the countries. Table 34.1 Refer to Table 34.1.Assume that the U.S.has only two workers and the terms of trade are 2 bushels of wheat per rack of clothing.What would be the gains from trade for the U.S.if it is producing according to its comparative advantage?

Question

The table below shows units of wheat and cloth produced by each worker per day in both the countries. Table 34.1  Refer to Table 34.1.Assume that the U.S.has only two workers and the terms of trade are 2 bushels of wheat per rack of clothing.What would be the gains from trade for the U.S.if it is producing according to its comparative advantage?

Quizplus · Accepted Answer

The Answer of The table below shows units of wheat and cloth produced by each worker per day in both the countries. Table 34.1  Refer to Table 34.1.Assume that the U.S.has only two workers and the terms of trade are 2 bushels of wheat per rack of clothing.What would be the gains from trade for the U.S.if it is producing according to its comparative advantage?

The Table Below Shows Units of Wheat and Cloth Produced