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. 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

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Definitions:

Type of Team

Refers to the various group structures within an organization, categorized based on their purpose, such as project teams, operational teams, or virtual teams.

Teams Competency

The skills and abilities that enable a team to perform effectively, including communication, collaboration, and problem-solving.

Teamwork

Collaborative efforts of a group to achieve a common goal or task.

Communication Competency

The ability to effectively convey, receive, and interpret messages, information, and ideas through appropriate verbal and non-verbal methods.