Author Question: It is often argued that if foreign goods are kept out of the domestic economy: a. jobs will be lost ... (Read 52 times)

audie · **on:** Jun 30, 2018

It is often argued that if foreign goods are kept out of the domestic economy:
a. jobs will be lost at home.
b. jobs will be created abroad.
c. foreign consumers will enjoy product surpluses.
d. jobs will be created at home.
e. foreign consumers will suffer product shortages.

Question 2

Columbia produces coffee with less labor and land than any other country; it therefore necessarily has
a. an absolute advantage in coffee production.
b. a comparative advantage in coffee production.
c. both a comparative and absolute advantage in coffee production.
d. an absolute advantage and comparative disadvantage in coffee production.