5.[单选题] The imports and exports counted based on the standard of goods passing through customs are called () A.Entrepot Trade B.General trade C.Transit trade D.Specialized trade 6.[单选题] The Ricardian model attributes the gains from trade associated with the principle of comparative advantage result to A.differences in technology. B.differences in preferences. C.differences in labor productivity. D.differences in resources. E.gravity relationships among countries. 7.[单选题 If a production possibilities frontier is bowed out (concave to the origin), then production occurs under conditions of A.constant opportunity costs. B.increasing opportunity costs. C.decreasing opportunity costs. D.infinite opportunity costs. E.uncertain opportunity costs. 8.[填空题] Use the information in the table below to answer the following questions. Production per unit of Labor: U.S. Argentina Wheat 200 20 Вeef 100 80 (a) the opportunity cost of wheat in US is units of beef, in Argentina is units of beef . (b) the opportunity cost of beef in US is units of wheat, in Argentina is units of wheat. (c) an absolute advantage in the production of wheat. advantage in the production of beef. an absolute (d) an comparative advantage in the production of wheat. comparative advantage in the production of an beef.
5.[单选题] The imports and exports counted based on the standard of goods passing through customs are called () A.Entrepot Trade B.General trade C.Transit trade D.Specialized trade 6.[单选题] The Ricardian model attributes the gains from trade associated with the principle of comparative advantage result to A.differences in technology. B.differences in preferences. C.differences in labor productivity. D.differences in resources. E.gravity relationships among countries. 7.[单选题 If a production possibilities frontier is bowed out (concave to the origin), then production occurs under conditions of A.constant opportunity costs. B.increasing opportunity costs. C.decreasing opportunity costs. D.infinite opportunity costs. E.uncertain opportunity costs. 8.[填空题] Use the information in the table below to answer the following questions. Production per unit of Labor: U.S. Argentina Wheat 200 20 Вeef 100 80 (a) the opportunity cost of wheat in US is units of beef, in Argentina is units of beef . (b) the opportunity cost of beef in US is units of wheat, in Argentina is units of wheat. (c) an absolute advantage in the production of wheat. advantage in the production of beef. an absolute (d) an comparative advantage in the production of wheat. comparative advantage in the production of an beef.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Practice Pack
!NO NEED FOR EXPLANATIONS!
Answer the questions 6,7,8...
Thank you.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Includes step-by-step video
Learn your way
Includes step-by-step video
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education