The table below shows the monetary value of the production of gems and steel respectively In the calendar year of 2019 for the nations of Turkey and Zimbabwe. Use It to answer questions regarding a possible trade scenario between the two nations. Year - 2019 Gems in billions of USD Steel in billions of USD Zimbabwe 0.2 Turkey 7 10 Which of the nations has an absolute advantage in terms of the production of steel? O a Neither O b Zimbabwe O c Turkey
The table below shows the monetary value of the production of gems and steel respectively In the calendar year of 2019 for the nations of Turkey and Zimbabwe. Use It to answer questions regarding a possible trade scenario between the two nations. Year - 2019 Gems in billions of USD Steel in billions of USD Zimbabwe 0.2 Turkey 7 10 Which of the nations has an absolute advantage in terms of the production of steel? O a Neither O b Zimbabwe O c Turkey
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:The table below shows the monetary value of the production of gems and steel respectively In the calendar year of 2019 for the nations of
Turkey and Zimbabwe.
Use It to answer questions regarding a possible trade scenario between the two nations.
Year - 2019
Gems in billions of USD
Steel in billions of USD
Zimbabwe
0.2
Turkey
7
10
Which of the nations has an absolute advantage in terms of the production of steel?
O a
Neither
O b
Zimbabwe
O c
Turkey
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