Table: Production Possibilities for the United States and Canada U.S. Production Possibilities One Possibility Another Possibility Quantity of Cars (Millions) 10 0 Quantity of Lumber (millions of board feet) 0 10 Canada Production Possibilities One Possibility Another Possibility Quantity of Cars (Millions) 2 0 Quantity of Lumber (millions of board feet) 0 12 Reference: Ref 8-3 Table: Production Possibilities for the United States and Canada (Table: Production Possibilities for the United States and Canada) Use Table: Production Possibilities for the United States and Canada. Both nations can produce cars and lumber. If these nations trade, Canada has the comparative advantage in _____ and should trade _____ to the United States in exchange for _____. Question 13 options: lumber; lumber; cars cars; cars; lumber. lumber; cars; lumber cars; lumber; cars
Table: Production Possibilities for the United States and Canada U.S. Production Possibilities One Possibility Another Possibility Quantity of Cars (Millions) 10 0 Quantity of Lumber (millions of board feet) 0 10 Canada Production Possibilities One Possibility Another Possibility Quantity of Cars (Millions) 2 0 Quantity of Lumber (millions of board feet) 0 12 Reference: Ref 8-3 Table: Production Possibilities for the United States and Canada (Table: Production Possibilities for the United States and Canada) Use Table: Production Possibilities for the United States and Canada. Both nations can produce cars and lumber. If these nations trade, Canada has the comparative advantage in _____ and should trade _____ to the United States in exchange for _____. Question 13 options: lumber; lumber; cars cars; cars; lumber. lumber; cars; lumber cars; lumber; cars
Chapter2: Economic Tools And Economic Systems
Section: Chapter Questions
Problem 3.7P
Related questions
Question
Table: Production Possibilities for the United States and Canada
| U.S. Production Possibilities | One Possibility | Another Possibility |
|---|---|---|
| Quantity of Cars (Millions) | 10 | 0 |
| Quantity of Lumber (millions of board feet) | 0 | 10 |
| Canada Production Possibilities | One Possibility | Another Possibility |
| Quantity of Cars (Millions) | 2 | 0 |
| Quantity of Lumber (millions of board feet) | 0 | 12 |
Reference: Ref 8-3 Table: Production Possibilities for the United States and Canada
(Table: Production Possibilities for the United States and Canada) Use Table: Production Possibilities for the United States and Canada. Both nations can produce cars and lumber. If these nations trade, Canada has the comparative advantage in _____ and should trade _____ to the United States in exchange for _____.
Question 13 options:
|
|
lumber; lumber; cars |
|
|
cars; cars; lumber. |
|
|
lumber; cars; lumber |
|
|
cars; lumber; cars |
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