Question: please answer both questions :) If Japan has an absolute advantage in the production of an item, it must also have a comparative advantage in

please answer both questions :)

If Japan has an absolute advantage in the production of an item, it must also have a comparative advantage in the production of that item. O True O False Question 5 The law of supply states that an increase in the price of a good increases the quantity supplied of that good. True 0.5 pts False

Step by Step Solution

★★★★★

3.50 Rating (167 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Answer a False Japan may have an absolute advantage in the production of an item but it does not ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

The narrator is Kendrick Lamar. Please answer both questions and in full sentences. Make sure you have zero grammar mistakes.

Please answer the following questions related to the article provided and submit your paper to the assignment link. Please ensure that you list the article on your References page, and use in-text...

Please answer the following questions regarding the taxability of Social Security: a. A 68-year-old taxpayer has $20,000 in Social Security income and $100,000 in tax-free municipal bond income. Does...

Question 1 1 pts Despite comparative advantage and specialization, in the real world we often see that a high proportion of trade is O unrelated to economies of scale O unlinked to division of labor...

X Assig dTech 191 Umic Asso rs/donyablackson/Downloads/Assignment%20one.pdf INSTRUCTIONS: This homework has two parts. Answer all questions from the two parts. Part 1: Answer all questions. Clrde the...

Please answer these questions. 4 years. 18 years. 24 years. 36 years. D Question 13 Panel (a) Panel (b) Panel (c) PF LRAS, LRAS, Y2 PF, Price level Real GDP per year Real wage L, LZ Y, Y2 Employment...

Multiple choice please answer all questions to the best of your ability. Question 1 Not yet answered Points out of 1.00 Not flaggedFlag question Question text Contracts to sell and buy back a...

Specialization based on absolute advantage leads to gains from trade. Group of answer choices True False Flag this Question Question 2 2pts Exhibit 19.4 Refer to Exhibit 19.4, which shows the supply...

Why might salt be a resource with a high cost in one market and a very low cost in another market? (1 point) Trade could affect costs. Its supply could be scarce in one market and very great in...

Let 0

A gas mixture consists of 5 kg of O2, 8 kg of N2, and 10 kg of CO2. Determine (a) The mass fraction of each component, (b) The mole fraction of each component, and (c) The average molar mass and gas...

g = 3 2 f t s e c 2 for the acceleration due t o gravity. Round your answer t o one decimal place.

The following amounts were obtained from the accounting records of Enderle Company: Required: Compute the missing amounts 2016 $38,900 42,100 2017 2018 Beginning inventory Net purchases Ending...

Martin Company is considering the introduction of a new product. To determine a selling price, the company has gathered the following information: Required: The company uses the absorption costing...

Suppose that a gift shop in Myrtle Beach has an annual demand for 15,000 units for a souvenir kitchen magnet that it buys for $0.50 per unit. Assume that it costs $10 to place an order and the...

Why are mergers attractive to CEOs? One of the reasons might be a potential increase in market share that can come with the pooling of company markets. Suppose a random survey of CEOs is taken, and...

A car dealership needs to determine how to allocate its $20,000 advertising budget. They have estimated the expected profit from each dollar (X) spent in four different advertising media as follows:...

What is the relationship between the slope of line p and the slope of line q? graph The slope of line q is half the slope of line p. The slope of line q is the opposite of the slope of line p. The...

If, instead of the situation given in Problem 5, the price of manufacturing were to fall by 10%, would landowners or capital owners be better off? Explain. How would the decrease in the price of...

What is a lender of last resort and what does it do? If a central bank acts as a lender of last resort under a fixed exchange rate regime, why are reserves at risk?

5.2 Explain the independent vs. interdependent self theory.

2. Would you wear your pajamas to school? Would you cheat on your final exam for this course? Would you steal your classmates computer? If you grew up in a different culture, do you think your...

3. The research reviewed in this chapter shows the difficulty of measuring such a complex phenomenon as attachment. The Strange Situation, the most widely used measure of attachment, has been...