Karl can produce either 10 tons of oranges or 5 tons of apples in a year, while Adam can produce either 5 tons of oranges or 10 tons of apples. If the exchange rate between apples and oranges in international markets is 1 ton of apples per 3 tons of oranges:
a. Karl and Adam will not trade apples and oranges with one another, since both will specialize in and export oranges to other countries.
b. Karl and Adam will not trade apples and oranges with one another, since both will specialize in and export apples to other countries.
c. Karl and Adam will trade apples and oranges with one another.
d. Karl and Adam will not specialize or engage in international trade.
Question 2
The oldest theory of comparative advantage is based on:
a. factor abundance.
b. productivity differences.
c. product life cycles.
d. preferences.
e. human skills.
The carbon cycle. Numbers are storage as 1015 g or fluxes as 1015 g per year (data from Schlesinger
Karl Marx (1818–1883).
Active solar technologies use for heat, cool, and produce electricity
Find the factor demand for labour and the amount of output it will produce. Show all ...
Diagrams a mitotic chromosome, showing how chromatin is condensed to produce it