A: Brizil has absolute advantage in both goods.
B: Brazil has comparative advantage in corn and China has comparative in wheat.
C: Brazil has comparative advantage in wheat and China has comparative in corn.
D: Chinahas absolute advantage in corn.
举一反三
- Given the information in the following table, __________.[img=231x72]17de7621169bfb0.png[/img] A: neither country has a comparative advantage in cloth. B: Home has a comparative advantage in widgets. C: Foreign has a comparative advantage in widgets. D: Home has a comparative advantage in both cloth and widgets.
- In one day, Brandon can either plow 10 acres or plant 20 acres. In one day, Christopher can either plow 14 acres or plant 14 acres. Which of the following statements about comparative advantage is correct A: Brandon has a comparative advantage in both plowing and planting. B: Brandon has a comparative advantage only in plowing. C: Brandon has a comparative advantage only in planting. D: Christopher has a comparative advantage in both plowing and planting.
- Given the information in the following table, _________. Unit labor requirements Cloth Widgets Home 10 20Foreign 60 30 A: neither country has a comparative advantage in cloth. B: Home has a comparative advantage in widgets. C: Foreign has a comparative advantage in widgets. D: Home has a comparative advantage in both cloth and widgets.
- Suppose Jim and Tom can both produce baseball bats. If Jim’s opportunity cost of producing baseball bats is lower than Tom’s opportunity cost of producing baseball bats, then A: Tom must have an absolute advantage in the production of baseball bats. B: Jim must have an absolute advantage in the production of baseball bats. C: Tom has a comparative advantage in the production of baseball bats. D: Jim has a comparative advantage in the production of baseball bats.
- When one producer has a lower opportunity cost of production than another producer for a given item, what exists? A: Absolute disadvantage B: Comparative disadvantage C: Comparative advantage D: Absolute advantage
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Lao Li has absolute advantages in arable land and planting. Lao Li ( ) A: Only have absolute advantages in arable land B: Only have a comparative advantage in arable land C: Only have an absolute advantage in sowing D: Only have a comparative advantage in sowing
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Suppose that in the time it takes for him to bake a cake, Bob can sew 5 pairs of jeans. In the time it takes for Joe to bake a cake, he can sew 8 pairs of jeans day. In this example, Bob has ________ advantage over Joe in cake baking. A: an absolute B: an absolute and a comparative C: a comparative D: neither an absolute nor a comparative
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Table 3.1 illustrates Willy and Blythe's hourly production for apples and carrots. From the table, we can conclude that: A: Willy has an absolute advantage in producing apples but not carrots. B: Willy has an absolute advantage in producing carrots but not apples. C: Willy has an absolute advantage in producing both goods. D: Willy does not have an absolute advantage in producing either good.
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Which of the following describes comparative advantage? A: To produce a bushel of wheat Farmer John must give up 2 bushels of corn whereas Farmer Ben must give up 3 bushels of corn. B: Company A can produce 4 boxes of cereal in a day whereas Company B can produce 5 boxes of cereal in a day. C: Firm A can produce a good at a cost of $3 and Firm B can produce the good at a cost of $4. D: Jane can type 50 words per minute and Joe can type 60 words per minute.
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2. _____________refined the theory of absolute advantage to one of comparative advantage.