The following data outline production choices (A or B) in two nations, Gamma and Sigma. Each nation has a workforce of 10.
-Assume that before specialization and trade,each nation devoted half of its workforce to each product.If these two nations fully specialize in accordance with comparative advantage,the total gains from specialization would be:
A) 200 units of tea and 200 pots
B) 400 pots
C) 400 units of tea
D) 400 units of tea and 400 pots
E) 600 units of tea and 600 pots
Correct Answer:
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Q26: A tariff can best be described as
Q27: The following are domestic supply and
Q28: Q29: In effect,tariffs on imports are: Q30: Q32: The following data outline production choices Q33: The following data outline production choices Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)special taxes on