worksheet trade

worksheet trade - Worksheet#1 1 Without trade a a country...

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1. Without trade a. a country is better off. b. a country’s production possibilities frontier is also its consumption possibilities frontier. c. a country can still benefit from international specialization. d. more product variety is available in a country. 2. Which of the following is NOT correct? a. Trade allows for specialization. b. Trade is good for nations. c. Trade is based on absolute advantage. d. Trade allows individuals to consume outside of their individual production possibilities curve. These figures illustrate the production possibilities available to Tom and Nicole with 40 hours of labor. 3. Refer to the graphs given. Nicole has an absolute advantage in __________ and Tom has an absolute advantage in __________. a. both goods, neither good b. neither good, both goods c. books, videos d. videos, books 4. Refer to the graphs given. Nicole has a comparative advantage in __________ and Tom has a comparative advantage in __________. a.
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worksheet trade - Worksheet#1 1 Without trade a a country...

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