Table 351
Full-Employment Output of Goods Based on the Information in Soybeans

question 16

Multiple Choice

$\begin{array}{|c|c|c|}\hline \text { Country } & \text { Tons of Soybeans } & \text { Computers } \\\hline \text { China } & 100 & 300 \\\hline \text { United States } & 150 & 750 \\\hline\end{array}$
Table 35.1
Full-Employment Output of Goods Based on the information in Table 35.1,assume China and the United States have the same amount of resources with which to produce soybeans and computers and they produce no other goods.From the information in Table 35.1,it is clear that

• A)China has a comparative advantage in computers.
• B)China has both an absolute and comparative advantage in soybeans.
• C)The United States has a comparative advantage in both goods.
• D)The United States has an absolute advantage in both goods.

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Definitions:

Retirement Account

A financial account that is specifically designed to save funds for retirement, offering tax benefits for money invested and saved.

Pension Plan

A type of retirement plan where an employer makes contributions to a pool of funds set aside for an employee's future benefit.

Multiplier

A factor by which an economic variable is multiplied to estimate its impact on other variables.

Salaries

Regular payments made by an employer to an employee, typically paid monthly or biweekly for professional or office work.