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. In _____, the opportunity cost of _____ cars is _____ board feet of lumber. Question 2 options: Canada; 1 million; 6 million Canada; 1 million; 166,000 the United States; 1 million; 10 million the United States; 10 million; 1 million
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. In _____, the opportunity cost of _____ cars is _____ board feet of lumber. Question 2 options: Canada; 1 million; 6 million Canada; 1 million; 166,000 the United States; 1 million; 10 million the United States; 10 million; 1 million
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 5SCQ: How can there be any economic gains for a country from both importing and exporting the same good,...
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. In _____, the
Question 2 options:
|
|
Canada; 1 million; 6 million |
|
|
Canada; 1 million; 166,000 |
|
|
the United States; 1 million; 10 million |
|
|
the United States; 10 million; 1 million |
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