If with one hour of labor time nation A can produce either 3X or 3Y while nation B can produce either 1X or 3Y (and labor is the only input) :
A) nation A has a comparative disadvantage in commodity X
B) nation B has a comparative disadvantage in commodity Y
C) nation A has a comparative advantage in commodity X
D) nation A has a comparative advantage in neither commodity
Correct Answer:
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Q1: Which of the following statements is true?
A)The
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A)free trade
B)stimulating the
Q6: With reference to the statement in Question
Q7: Ricardo explained the law of comparative advantage
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Q9: If in a two-nation (A and B),two-commodity
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Q11: The commodity in which the nation has
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