13-20785-review-mcqsint302dlmid

13-20785-review-mcqsint302dlmid - Review MCQs 1 Agnes can...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Review MCQs 1. Agnes can produce either 10 units of X or 10 units of Y in an hour, while Brenda can produce either 20 units of X or 40 units of Y in an hour. a. Brenda has an absolute advantage over Agnes b. Agnes has a comparative advantage in the production of Y c. Brenda has a comparative advantage in the production of X d. Brenda cannot gain from trade 2. Agnes can produce either 10 units of X or 10 unit of Y in an hour, while Brenda can produce either 20 units of X or 40 units of Y in an hour. There can be gains from exchange 3. A person has a comparative advantage in producing a particular good if that person 4. Agnes can produce either 10 units of X or 10 unit of Y in an hour, while Brenda can produce either 20 units of X or 40 units of Y in an hour. The opportunity cost of producing a unit of X is Table 1.1 Country A Country B X Y X Y 0 12 0 16 2 9 2 12 4 6 4 8 6 3 6 4 8 0 8 0 5. In the table1.1, the opportunity cost of producing more of a. good X is the same for both countries b. good Y is the same for both countries c. good X is lower for country A d. good Y is lower in country A
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern