hw2 - Econ 4550/6550 International Trade Assignment 2 Due...

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Econ 4550/6550 International Trade Assignment 2 Due on: Monday, September 21 Please type your answers. This assignment has a total of 20 points. MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. [1x4 = 4] 1) A country engaging in trade according to the principles of comparative advantage gains from trade because it A) is producing imports indirectly more efficiently than it could domestically. B) is producing exports indirectly more efficiently than it could alternatively. C) is producing exports using fewer labor units. D) is producing imports indirectly using fewer labor units. E) None of the above. 1) Unit Labor Requirements Cloth Widgets Home 10 20 Foreign 60 30 2) Given the information in the table above, if it is ascertained that Foreign uses prison - slave labor to produce its exports, then home should A) export both and import nothing. B) export and import nothing.
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hw2 - Econ 4550/6550 International Trade Assignment 2 Due...

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