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Q. A country will most likely cause an outward shift in its production possibilities by Increasing the price of product(s) for which it has a comparative advantage Reducing foreign trade and increasing taxes on businesses Reducing its spending for developing human capital Producing more of its most expensive products Investing in the development of new technology
lota-ville Coal Steel 50 40 30 20 12 10 15 0 တမ ထ တ Omega-land Coal Steel 30 24 18 12 6 10 0 Q. The table above shows the production combinations for two different countries. If Omega-land is currently producing 6 units of coal and 12 units of steel, what is their opportunity cost for producing 6 more units of steel O6 units of steel 6 units of coal 4 units of coal 2 units of coal O2 units of steel
Q. Using the same amount of time and resources, Lydia can assemble either 8 block towers or 4 jigsaw puzzles; Anna can assemble either 4 block towers or 4 jigsaw puzzles. Based on this information, which of the following statements is correct? Anna has an absolute advantage in assembling jigsaw puzzles Anna has a comparative advantage in assembling jigsaw puzzles Anna has an absolute advantage in assembling block towers Lydia has a comparative advantage in assembling jigsaw puzzles Lydia has a comparative advantage in assembling both block towers and jigsaw puzzles