Author Question: Refer to the table above. If each country were to reduce production of its comparative disadvantage ... (Read 125 times)

Mr3Hunna · **on:** Jun 30, 2018

Refer to the table above. If each country were to reduce production of its comparative disadvantage good by 1 unit, world output of wine would rise by

A) 1.5 units.
B) 2 units.
C) 3 units.
D) 3.5 units.

Question 2

Purchasing power parity (PPP) measurements of income are a way to make international comparisons by correcting for national differences in

A) unemployment.
B) inflation.
C) prices of goods and services.
D) economic growth.
E) government subsidies.