Suppose that the productivity per worker in the milk and cranberry juice industries of Southland and Northland are as follows:
a)Which country has the absolute advantage in producing milk?
b)Which country has the absolute advantage in producing cranberry juice?
c)Which country has the comparative advantage in producing milk?
d)Which country has the comparative advantage in producing cranberry juice?
e)According to the theory of comparative advantage,will there be trade? If yes,what is the direction of trade?
Definitions:
Identity
The qualities, beliefs, personality, looks, and expressions that make a person or group distinctive.
Informal Leadership
Leadership that emerges within a group without formal recognition, often based on personal qualities and respect among peers.
Influential
Having great influence on someone or something.
Implicit Followership Theories
Are preconceived notions about prototypical and antiprototypical followership behaviors and characteristics.
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