quiz4 - 1. Quiz4_Question1 A country that can produce goods...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
1. Quiz4_Question1 A country that can produce goods or services at a lower cost than another country, is said to have __________ over the other country. Student Response Value Correct Answer Feedback 1. a comparative advantage 0% 2. a redistributive advantage 0% 3. an international trade 0% 4. an opportunity cost advantage 0% 5. an absolute advantage 100% Score: 10/10 Override score: / 10 Comments for student: 2. Quiz4_Question2 Consider the following monthly production possibilities for two countries per 100 workers: Country A Country B Product Labor Output Labor Output Food 100 workers 10 tons 100 workers 50 tons Equipment 100 workers 100 units 100 workers 120 units By specializing and trading, total global output in food can be
Background image of page 1

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

View Full DocumentRight Arrow Icon
increased __________ and total global output in machines can be increased __________ per 100 workers. Student Response Value Correct Answer Feedback 1. 10 tons; 20 units 100% 2. 20 tons; 10 units 100% 3.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 8

quiz4 - 1. Quiz4_Question1 A country that can produce goods...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online