Author Question: This table shows how much cotton and cocoa can each be produced in Peru and Brazil with one unit of ... (Read 20 times)

dekbert · **on:** Oct 12, 2022

Question 1

A country that engages in no foreign trade is said to be in a situation of
◦ absolute advantage.
◦ comparative advantage.
◦ autarky.
◦ reciprocal absolute advantage.
◦ isolation.

Question 2

This table shows how much cotton and cocoa can each be produced in Peru and Brazil with one unit of equivalent resources.

	Cotton (bales)	Cocoa Beans (bushels)
Peru	2	4
Brazil	1	6

TABLE 19-4

Refer to Table 19-4. If one unit of resources is shifted from cotton to cocoa beans in Brazil, and one unit of resources is shifted from cocoa beans to cotton in Peru, world output would increase by
◦ 2 bales of cotton and 1 bushel of cocoa beans.
◦ 2 bales of cotton.
◦ 6 bushels of cocoa beans.
◦ 3 bales of cotton and 10 bushels of cocoa beans.
◦ 1 bale of cotton and 2 bushels of cocoa beans.

brunoanthony · **Reply #1 on:** Oct 12, 2022

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