If the Opportunity Cost of Corn to Wheat Is 3:1

question 155

True/False

If the opportunity cost of corn to wheat is 3:1 in the United States and 5:1 in France, only the United States would benefit from trade if the actual terms of trade between corn and wheat were 2:1.

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Definitions:

Sales Budget

An estimate of the expected sales revenue of a company for a particular period of time.

Cash Balance

The amount of cash held by an entity at any given time, visible on financial statements.