The next section contains long questions from four topics covered in the course. To correctly answer...

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The next section contains long questions from four topics covered in the course. To correctly answer the multiple choice questions, you may need to do some workings on paper (or your preferred method). Based on your solutions, you need to select the best alternative available. Your workings do not need to be provided. Consider the following production data for Italy and France: Italy France Labour force 50 180 Bottles of wine per worker 80 25 Wheels of cheese per worker 8 2 Choose the best alternative based on the information from the previous Table Italy has a comparative advantage in the production of wine O France has a comparative advantage in the production of cheese Italy has an absolute advantage in the production of wine O There is no incentive for trade in this economy O Italy has an absolute advantage in the production of cheese The next section contains long questions from four topics covered in the course. To correctly answer the multiple choice questions, you may need to do some workings on paper (or your preferred method). Based on your solutions, you need to select the best alternative available. Your workings do not need to be provided. Consider the following production data for Italy and France: Italy France Labour force 50 180 Bottles of wine per worker 80 25 Wheels of cheese per worker 8 2 Choose the best alternative based on the information from the previous Table Italy has a comparative advantage in the production of wine O France has a comparative advantage in the production of cheese Italy has an absolute advantage in the production of wine O There is no incentive for trade in this economy O Italy has an absolute advantage in the production of cheese

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