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Author Question: Refer to Table 2-9. Which of the following statements is true? A) Serena has a comparative ... (Read 17 times)

Marty

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on: Jun 29, 2018
Refer to Table 2-9. Which of the following statements is true?
 
  A) Serena has a comparative advantage in making both products.
  B) Haley has a comparative advantage in making both products.
  C) Haley has a comparative advantage in making bracelets and Serena in making necklaces.
  D) Haley has a comparative advantage in making necklaces and Serena in making bracelets.

Question 2

What is the difference between imports and exports?
 
  What will be an ideal response?
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covalentbond

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

Imports are goods and services bought domestically but produced in other countries.
Exports are goods and services produced domestically but sold in other countries.


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