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Micro-Economics Ch 8 Questions

Micro-Economics Ch 8 Questions - Name Date 1 France and...

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Page 1 Name: __________________________ Date: _____________ 1. France and England both produce wine and cloth under conditions of constant opportunity costs. France will have a comparative advantage in wine production if: A) it can produce more wine than England. B) its labor productivity in wine production is greater than England's. C) the absolute cost of producing wine is lower in France than in England. D) the opportunity cost of wine production is lower in France than in England. 2. Bangladesh exports shirts, the making of which is labor-intensive, to the United States. The likely source of Bangladesh's comparative advantage in shirts is: A) a hotter climate, which makes it possible to produce shirts outdoors, eliminating the need for factory buildings and hence reducing costs. B) superior production technology. C) that, in comparison with the United States, Bangladesh is a labor-abundant country. D) the higher labor productivity in Bangladesh. 3. When an economy moves from autarky to free international trade, in the export sector: 4. Taken collectively, people in nations that engage in international trade are not likely to: 5. If the ________ differ(s) between two countries, this suggests the possibility for mutually advantageous trade.
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