Examlex

Solved

Based on the Comparative Cost Ratios Implied in Figure 35

question 101

Multiple Choice

  Based on the comparative cost ratios implied in Figure 35.2, it is clear that A)  The United States has a comparative advantage in baseballs and Mexico has a comparative advantage in golf shoes. B)  Mexico should import all of its golf shoes from the United States. C)  The United States should import all of its baseballs from Mexico. D)  The United States should specialize in producing golf shoes, and Mexico should specialize in producing baseballs. Based on the comparative cost ratios implied in Figure 35.2, it is clear that


Definitions:

Country

A nation with its own government, occupying a particular territory.

Crude Death Rate

A measure of the number of deaths in a given population during a specified period, typically expressed per thousand individuals per year.

Deaths

refers to the cessation of all biological functions that sustain living organisms, marking the end of life.

Population

The total number of people or inhabitants in a particular area or country.

Related Questions