Karl can produce either 10 tons of oranges or 5 tons of apples in a year, while Adam can produce either 5 tons of oranges or 10 tons of apples. If the exchange rate between apples and oranges in international markets is 1 ton of apples per 3 tons of oranges:
a. Karl and Adam will not trade apples and oranges with one another, since both will specialize in and export oranges to other countries.
b. Karl and Adam will not trade apples and oranges with one another, since both will specialize in and export apples to other countries.
c. Karl and Adam will trade apples and oranges with one another.
d. Karl and Adam will not specialize or engage in international trade.
Question 2
The oldest theory of comparative advantage is based on:
a. factor abundance.
b. productivity differences.
c. product life cycles.
d. preferences.
e. human skills.
Furchgott's discovery that endothelial cells produce a vasodilating substance.
This 80-year old man in a village in Hubei, China, has slowed down, but he has not retired. He is ...
An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ...
The two TP sensors used on the throttle body of an electronic throttle body assembly produce ...
Self-crossing F2 plants to produce an F3 generation shows that there are two different genotypes amo
Walking into new year kids drawing