The following production possibilities schedule shows the quantities of wheat and rice that can be produced in Canada and India with one unit of equivalent resources. Wheat (bushels) Rice (bushels) Canada 15 8. India 15 To achieve the potential gains from international trade, O A. Canada should exclude wheat from its consumption. O B. Canada should export rice to India and import Indian wheat. O C. Canada should produce both wheat and rice and not trade with India. O D. Canada should export wheat to India and import Indian rice.

The following production possibilities schedule shows the quantities of wheat and rice that can be produced in Canada and India with one unit of equivalent resources. Wheat (bushels) Rice (bushels) Canada 15 8. India 15 To achieve the potential gains from international trade, O A. Canada should exclude wheat from its consumption. O B. Canada should export rice to India and import Indian wheat. O C. Canada should produce both wheat and rice and not trade with India. O D. Canada should export wheat to India and import Indian rice.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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