In Table 17.3, the United States has 
A. an absolute and comparative advantage in both goods.
B. an absolute and comparative advantage in lumber.
C. an absolute and comparative advantage in cars.
D. an absolute advantage but not a comparative advantage in lumber.
Answer: C
You might also like to view...
Kyle and Stan are playing Odds or Evens, where Kyle is designated as the "odd" player and Stan is designated as the "even" player. They decide to play the game 10 times. If Kyle adopts a pure strategy of "shoot 2," Stan shoul
A) also adopt a pure strategy of "shoot 2." B) adopt a pure strategy of "shoot 1." C) adopt a mixed strategy of "shoot 1" 50% of the time and "shoot 2" 50% of the time. D) adopt a mixed strategy of "shoot 1" more than 50% of the time and "shoot 2" less than 50% of the time.
The neoclassical perspective places more emphasis on
a. supply. b. demand. c. aggregate supply. d. aggregate demand.
The base year is the year
A) in which prices are unstable. B) in which prices are lowest. C) in which prices are highest. D) that serves as a reference point or benchmark. E) in which nominal output is largest.
Refer to Table 22-3. Use the table above to calculate the annual growth rate in GDP. Also calculate the total percentage change in the growth from 2013 through 2016
Explain the difference between the average annual growth rate in real per capita GDP from 2013 through 2016 and the total percentage change in growth from 2013 and 2016.