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Author Question: David takes 10 minutes to process a customer, and 20 minutes to stock the shelves. Danny takes 15 ... (Read 387 times)

abarnes

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on: Jun 29, 2018
David takes 10 minutes to process a customer, and 20 minutes to stock the shelves. Danny takes 15 minutes to process a customer, and 15 minutes to stock the shelves. Which of the following statements is true?
 
  A) Danny has a comparative advantage in processing customers and in stocking shelves.
  B) David has a comparative advantage in processing customers but not in stocking shelves.
  C) Danny has an absolute advantage in performing both tasks.
  D) Danny has a comparative advantage in processing customers but not in stocking shelves.
  E) David has an absolute advantage in performing both tasks.

Question 2

If the exchange rate rises as shown by the arrow in the figure above, the price of imports coming into the United States will be ________, Americans will supply ________ dollars in order to get the foreign exchange to purchase ________ imported goods
 
  .
  A) higher; more; more
  B) lower; more; more
  C) lower; fewer; more
  D) lower; fewer; fewer
  E) higher; fewer; more
 
  The figure above shows supply curves of dollars in the foreign exchange market.


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itsakadoozi

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

B

Answer to Question 2

B


abarnes

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Reply #2 on: Jun 29, 2018
Thank you


itsakadoozi

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Reply #3 on: Jun 29, 2018
No problemo


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