Suppose that in Germany computers cost 1,500 and automoviles cost 20,000, and uin the US computers...
Suppose that in Germany computers cost 1,500 and automoviles cost 20,000, and uin the US computers cost 1,000, and automoviles cost 15,000, which of the following is not correct.
a. the us has an aboslute advantage in the both computers and autos b. the us will thst gain if it trades with Germany
Homework Answers
Ans) the correct option is b) b. the us will thst gain if it trades with Germany
Because US can produce both the goods at a lower cost so it has an absolute advantage in producing the goods. US will not gain from trade because it can do better by producing the goods by itself.
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Suppose that in Germany computers cost 1,500 and automoviles
cost 20,000, and uin the US computers...
Suppose that in Germany computers cost $1,500 and automobiles cost $20,000, and in the U.S. computers...
Suppose that in Germany computers cost $1,500 and automobiles cost $20,000, and in the U.S. computers cost $1,000 and automobiles cost $15,000. Which of the following is not correct? 1. the U.S. has an absolute advantage in both computers and automobiles 2. all of the other answers are correct 3. Germany has a comparative advantage in automobiles 4. the U.S. will not gain if it trades with Germany 5. the U.S. has a comparative advantage in computers
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