brainlyleiset please
Answer:
Based on the information provided above, which of the following must be true?
Home Nation has an absolute advantage in the production of computers.
Based on the information provided above, which of the following are mutually beneficial terms of trade at which both Home and Foreign Nation will be willing to specialize and exchange?
1 auto for 17 computers
Any point inside a production possibilities curve is
associated with inefficient use or unemployment of some resources
If two nations specialize according to their individual comparative advantages and engage in trade, then which of the following must be true?
Both nations can consume beyond their individual production possibilities.
Suppose two countries are each capable of individually producing two given commodities. Instead, each specializes by producing the commodity for which it has a comparative advantage and then trades with the other country. Which of the following is most likely to result?
Both countries will become better off.
Brazil and Peru produce both coffee and wheat using labor as the only input. The table below shows the labor hours required to produce a unit of coffee and a unit of wheat in each country.
Peru has a comparative advantage in producing coffee.
On the basis of the diagram above showing an economy's production possibilities curve for two goods, which of the following statements must be true?
I, II, and III
A leftward shift of the supply curve for computers could be caused by which of the following in the short run?
A decrease in the number of computer manufacturers
If a certain combination of goods or services lies outside the production possibilities curve of an economy, which of the following is true?
Resources are not available to achieve that combination of goods or services.
Country A can produce either 2 tons of cocoa or 4 cars with 10 units of labor. Country B can produce either 5 tons of cocoa or 25 cars with 10 units of labor. Based on this information, which of the following is true?
Country A has a comparative advantage in the production of cocoa, while Country B has a comparative advantage in the production of cars.
Comparative advantage implies that
two countries should benefit from trade unless both have equal opportunity costs in every good
Which of the following concepts can be illustrated using the production possibilities curve?
I, II, and IV only
The data above indicates labor-hours needed to produce a single unit of each of two commodities in each of two countries. If labor is the only factor used to produce the commodities, which of the following statements must be correct?
I and III only
