Malaysia can produce 8 kg of fish an hour and 12 kg of beef an hour....
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Malaysia can produce 8 kg of fish an hour and 12 kg of beef an hour. New Zealand can produce 11 kg of fish an hour and 22 kg of beef an hour. Salaries in each country, after taking into account the exchange rates, are the same. Therefore, : O a. The two countries would not be better of trading with each other because one country has an absolute advantage in both goods O b. The two countries would be better of trading with each other because one country has a comparative advantage in both goods O c. The two countries would be better of trading with each other because they each have a comparative advantage in one of the two goods Od. The two countries would be better of trading with each other because they each have an absolute advantage in one of the two goods Malaysia can produce 8 kg of fish an hour and 12 kg of beef an hour. New Zealand can produce 11 kg of fish an hour and 22 kg of beef an hour. Salaries in each country, after taking into account the exchange rates, are the same. Therefore, : O a. The two countries would not be better of trading with each other because one country has an absolute advantage in both goods O b. The two countries would be better of trading with each other because one country has a comparative advantage in both goods O c. The two countries would be better of trading with each other because they each have a comparative advantage in one of the two goods Od. The two countries would be better of trading with each other because they each have an absolute advantage in one of the two goods
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C The two countries would be better of trading with each other because they each have a comparative ... View the full answer
Related Book For
Applied Regression Analysis and Other Multivariable Methods
ISBN: 978-1285051086
5th edition
Authors: David G. Kleinbaum, Lawrence L. Kupper, Azhar Nizam, Eli S. Rosenberg
Posted Date:
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