Suppose that a worker in India can make 3 TVs or 15 pairs of shoes per week,
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Suppose that a worker in India can make 3 TVs or 15 pairs of shoes per week, and a worker in China can make 4 TVs or 18 pairs of shoes per week. • In what sense do TVs and shoes cost less in India than in China? • In what sense do TVs cost less in India than in China? Explain. • If both countries were to engage in trade, which country would export which good? • d. Would the answer to the above question change if a worker in China could make 5 TVs per week
Related Book For
Macroeconomics Principles, Applications, and Tools
ISBN: 978-0132555234
7th Edition
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
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