B) If these countries were open to trade, China would export shirts. Both countries would
benefit because the opportunity cost is the lowest this way.
C) 5 shirts for 1 computer.
D) There would be no need for trade because they have the sa
2. Some items I would include to figure out the opportunity cost of a vacation to Disneyworld
would be the cost of food, traveling, amount of time spent for the vacation, hotel costs.
6. The invisible hand of the ma
The difference between absolute advantage and comparative advantage is that. Absolute
advantage parallels the productivity of different producers or economies. The producer that needs
smaller quantity inputs to produce a good, they have an abs
GDP is defined as the market value of all final goods and services produced within a
country in a given period of time. In spite of this definition, some production is left out of GDP.
GDP includes consumption, government expenditures, investm
1. According to the text, which of the following is an important emerging field that is
helping large population groups break out of poverty?
C. Doctoral programs
2. A European Union action p