The United States Has a Comparative Advantage in the Production

question 257

Multiple Choice

The United States has a comparative advantage in the production of wheat, and Haiti has a comparative advantage in the production of sugar. If both countries specialize based on the theory of comparative advantage

• A) only the production of wheat will increase.
• B) the production and consumption of both goods will increase.
• C) only the production of both goods will increase.
• D) only the consumption of both goods will increase.

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Definitions:

Range

The difference between the highest and lowest values in a set of numbers; a measure of dispersion or variability.

Median

The middle value in a sorted list of numbers, effectively dividing the dataset into two halves.

IQR

IQR, or Interquartile Range, measures the middle 50% spread of a dataset by calculating the difference between the first (25th percentile) and third (75th percentile) quartiles.

Range

The difference between the highest and lowest values in a dataset.