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

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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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
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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