The Table Below Shows Units of Wheat and Cloth Produced

question 92

Multiple Choice

The table below shows units of wheat and cloth produced by each worker per day in both the countries.Table 20.1

-Between two countries, comparative advantage is found by comparing the:

• A)relative costs of production in each country.
• B)absolute costs of production in each country after accounting for inflation.
• C)labor hours required to produce a bundle of products in each country.
• D)level of interest rates in each country.
• E)shipping and transportation costs of each country.

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Definitions:

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A culture experienced worldwide that results from the exchange of ideas, meanings, and values around the globe, often brought about by advancements in communication and technology.

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