If the US Could Produce 5 Televisions Per Hour of Labor and Labor

question 134

Essay

If the U.S. could produce 5 televisions per hour of labor and China could produce 3 televisions per hour of labor, would it necessarily follow that the U.S. should specialize in television production?
Explain your answer using the concepts of comparative and or absolute advantage.

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Definitions:

National Debt

The total amount of money that a country's government has borrowed and is yet to repay.

Domestic Policy

Government strategies and decisions specifically related to internal affairs of a country, including education, healthcare, economy, and social welfare.

Foreign Policy

A government's strategy in managing its relationships with other nations, concerning diplomacy, trade, and national security.

Radical Conservatism

A political ideology that combines conservative values and policies with radical means of achieving them.