Examlex

Solved

Home Has a Comparative Advantage in Wheat, and Foreign Has

question 51

Multiple Choice

Home has a comparative advantage in wheat, and Foreign has a comparative advantage in cloth. Once trade occurs, Home produces 1,500 bushels of wheat, and Foreign produces 1,000 yards of cloth. The following table shows the amount of wheat that Home is willing to trade to acquire more cloth. Home has a comparative advantage in wheat, and Foreign has a comparative advantage in cloth. Once trade occurs, Home produces 1,500 bushels of wheat, and Foreign produces 1,000 yards of cloth. The following table shows the amount of wheat that Home is willing to trade to acquire more cloth.   If the international price of cloth is 1.5 bushels of wheat per yard, how many yards of cloth will Foreign export to Home? A)  500 yards B)  600 yards C)  700 yards D)  1,150 yards If the international price of cloth is 1.5 bushels of wheat per yard, how many yards of cloth will Foreign export to Home?


Definitions:

Sales Quota

Specific goals assigned to a salesperson, sales team, branch sales office, or sales district for a stated time period.

Sales Goals

Specific objectives set by a business regarding the amount of product or services to be sold within a certain timeframe, aiming for growth or stability.

Commission Compensation Plan

A payment model where employees or sales agents are rewarded based on the sales or performance they achieve.

Sales Positions

are roles within a company focused on selling products or services to customers, which can vary from entry-level to executive levels.

Related Questions