Table 3.1
Use the data in the table below to answer the following question(s) :
Output per Hour Worked
-Based on Table 3.1,if the world price of computers is four pairs of shoes,then the optimal strategy for each country would be
A) to specialize in shoes.
B) to specialize in computers.
C) for Mexico to specialize in shoes,and the United States in computers.
D) for the United States to specialize in shoes,and Mexico in computers.
E) None of the above.
Correct Answer:
Verified
Q4: Which economist introduced the simple trade model
Q5: In the simple trade model,what is assumed
Q6: Table 3.1
Use the data in the table
Q8: Which of the following is TRUE?
A)Adam Smith
Q13: Adam Smith created the theory of comparative
Q15: Mercantilists perceived trade as a zero sum
Q19: What did Adam Smith perceive was primarily
Q24: Suppose that Paraguay can produce 12 wheat
Q25: Suppose that Canada can produce 15 timber
Q26: Suppose that Canada can produce 15 units
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