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Author Question: Because of the quantity and quality of its resources, the U.S. has an absolute advantage in the ... (Read 31 times)

Lobcity

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on: Jun 29, 2018
Because of the quantity and quality of its resources, the U.S. has an absolute advantage in the production of many goods and services. Does this imply that the U.S.
 
  cannot benefit from trading with a developing country that has less productive ability? Why or why not?

Question 2

Refer to Scenario 1 . If you start the course in such a way that each exam score is better than your previous average what should happen to your average score?
 
  What would happen to your average if it was below your previous exam score? Explain.


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rnehls

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

The U.S. can benefit from trading with less productive countries as long as it produces the goods for which it has a comparative advantage and trades to receive the goods for which it does not.

Answer to Question 2

Your average would continue to rise. If you received a score on one examination that was lower than the previous exam score there wouldn't be any way to determine what would happen to your average unless you knew what this score was compared to your previous average, not your previous exam score.


Lobcity

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

FergA

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Reply 3 on: Yesterday
Wow, this really help

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