The table below shows the number of labor hours required to produce one umbrella and one bushel of corn in the United Kingdom and the rest of the world. The rest of the world has an absolute advantage in the production of Labor hours to make:In the United KingdomIn the Rest of the World1 umbrella3.002.001 bushel of corn1.000.25
A. only umbrellas.
B. neither corn nor umbrellas.
C. only corn.
D. both corn and umbrellas.
Answer: D
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Interstate Commerce Commission (ICC) Act of 1887 gave the federal government rate-setting powers
Indicate whether the statement is true or false
Which of the following will cause the average cost curve of making cigarettes to shift?
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Indicate whether the statement is true or false