The following data outline production choices (A or B) in two nations, Gamma and Sigma. Each nation has a workforce of 10.
-What are the limits of the terms of trade between Gamma and Sigma?
A) 1 unit of tea = 1 pot to 3 units of tea = 1 pot
B) 1 unit of tea = 3 pots to 1 unit of tea = 6 pots
C) 1 unit of tea = 1 pot to 1 unit of tea = 3 pots
D) 6 units of tea = 1 pot to 1 unit of tea = 1 pot
E) 6 units of tea = 1 pot to 6 pots = 1 unit of tea
Correct Answer:
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Q35: The terms of trade reflect the:
A)rate at
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