For purposes of determining comparative advantage, the cost of producing a good in each of two countries is measured in terms of:

a. metric units only.
b. opportunity costs.
c. total costs.
d. the currency of the importing country.
e. the currency of the exporting country.


b

Economics

You might also like to view...

The law of demand implies that, other things remaining the same

A) as the price of a cheeseburger rises, the quantity of cheeseburgers demanded will increase. B) as the price of a cheeseburger rises, the quantity of cheeseburgers demanded will decrease. C) as income increases, the quantity of cheeseburgers demanded will increase. D) as the demand for cheeseburgers increases, the price of a cheeseburger will fall.

Economics

Lucky buys hats for $20 but Lucky will not sell one of her hats for less than $35. Lucky is ________

A) displaying the endowment effect B) making decisions using her prefrontal cortex C) exhibiting bounded self-interest D) showing unbounded will power

Economics

People are classified as unemployed if

A. they choose to exit the labor force because they cannot find a job. B. they are not working for voluntary reasons. C. they are willing and able to work but cannot find a job. D. they do not have a job because they choose to work at home for no pay.

Economics

Exchange rate crises are only associated with fixed exchange rate systems

Indicate whether the statement is true or false

Economics