Computers Wheat country A 10 4 country B 6 3 Table shows the number of hours of labor required to produce 1 unit of output of computers and wheat in country A and B. Country ……… has an absolute advantage in computers. Country………. has an absolute advantage in wheat. Country……… has a comparative advantage in computers.
Computers Wheat country A 10 4 country B 6 3 Table shows the number of hours of labor required to produce 1 unit of output of computers and wheat in country A and B. Country ……… has an absolute advantage in computers. Country………. has an absolute advantage in wheat. Country……… has a comparative advantage in computers.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Computers Wheat
country A 10 4
country B 6 3
Table shows the number of hours of labor required to produce 1 unit of output of computers and wheat in country A and B.
-
Country ……… has an
absolute advantage in computers. -
Country………. has an absolute advantage in wheat.
-
Country……… has a
comparative advantage in computers. -
Country……... has a comparative advantage in wheat.
-
Price ratio( computers/wheat) should be between …………. and …………. for free trade.
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