Assume that the United States uses 20 worker-hours to produce 1 computer and 5 worker-hours to produce 1 unit of food; assume also that Japan uses 10 worker-hours to produce 1 computer and 30 worker-hours to produce 1 unit of food. Which of the following statements is true?
a. Japan has the comparative advantage in food production.
b. The United States has the comparative advantage in food production.
c. The United States has the absolute advantage in food production.
d. The United States has a lower opportunity cost for making computers.
e. Japan has a lower opportunity cost for making food.
Question 2
Which of the following are consequences of inflation?
a. It increases the burdens on people with fixed incomes when inflation is not anticipated.
b. It hurts savers who did not anticipate how high the inflation was, but helps those who have borrowed at a fixed rate before the inflation became apparent.
c. Inflation imposes costs on people who devote resources to protecting themselves from expected inflation.
d. all of the above
tongue states
Prevalence and Sex Distribution of Top 10 Autoimmune Diseases Diagnosed in the United States
Areas of the United States, Mexico, and Cuba will be affected by a rise of just 100 cm
Many countries do not produce enough food and need to import food from the United States
GDP and Capital per Worker, 2009
STDs in the United Stated