SCENARIO: ABSOLUTE AND COMPARATIVE ADVANTAGE
Poland requires 4 hours of labor to produce a ton of coal and 10 hours of
Labor to produce 10 bushels of wheat.The Czech Republic requires 6
Hours of labor to produce a ton of coal and 10 hours of labor to produce
10 bushels of wheat.
Reference: Ref 25
(Scenario: Absolute and Comparative Advantage) Which country has an
Absolute advantage in the production of coal?
A) Poland
B) the Czech Republic
C) Neither country has an absolute advantage.
D) Both countries have an absolute advantage.
Correct Answer:
Verified
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Poland requires 4
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A)the
Q67: In equilibrium, which of the following statements
Q68: SCENARIO: ABSOLUTE AND COMPARATIVE ADVANTAGE
Poland requires 4
Q69: SCENARIO: ABSOLUTE ADVANTAGE
The United States requires 20
Q71: SCENARIO: ABSOLUTE AND COMPARATIVE ADVANTAGE
Poland requires 4
Q72: SCENARIO: ABSOLUTE ADVANTAGE
The United States requires 20
Q73: SCENARIO: ABSOLUTE AND COMPARATIVE ADVANTAGE
Poland requires 4
Q74: In the home equilibrium situation, the relative
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The United States requires 20
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