Refer to the above table. Assuming constant opportunity costs
A) neither country will be willing to engage in trade at any rate of exchange of product A for product B.
B) both countries will be willing to engage in trade at a rate of exchange of 0.3 unit of product A for 1 unit of product B.
C) both countries will be willing to engage in trade at a rate of exchange of 3 units of product A for 1 unit of product B.
D) both countries will be willing to engage in trade at a rate of exchange of 1.5 unit of product A for 1 unit of product B.
D
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A production indifference curve describes the input combinations that will produce a given output.
Answer the following statement true (T) or false (F)
In the Classical system, the interest rate is determined by all of the following except
A) the thriftiness of the public. B) the money supply. C) the productivity of capital. D) investment.
A sufficient measure of the effectiveness of government redistribution is to look at the overall level of taxpayer dollars spent on redistributive activities
a. True b. False
All of the following are examples of human capital except:
A. physical strength. B. an eye for decorating and color. C. a PhD in chemistry. D. an automotive manual.