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The following table shows the units of output a worker can produce per month in Germany and Poland. Use this table to answer the question.
| Wheat | Computers | |
| Germany | 20 | 5 |
| Poland | 8 | 4 |
Prices of computers can be stated in terms of units of wheat. What is the range of prices of computers for which both countries could gain from trade?
The price must be greater than 2 units of wheat but less than 4 units of wheat....
Read MoreThe following table shows the units of output a worker can produce per month in Germany and Poland. Use this table to answer the question.
| Wheat | Computers | |
| Germany | 20 | 5 |
| Poland | 8 | 4 |
Poland should ________.
b. specialize in computers production, export computers, and import wheat...
Read MoreThe following table shows the units of output a worker can produce per month in Germany and Poland. Use this table to answer the question.
| Wheat | Computers | |
| Germany | 20 | 5 |
| Poland | 8 | 4 |
Which of the following statements about comparative advantage is true?
Germany has a comparative advantage in the production of wheat, while Poland has a comparative advantage in the production of computers....
Read MoreThe following table shows the units of output a worker can produce per month in Germany and Poland. Use this table to answer the question.
| Wheat | Computers | |
| Germany | 20 | 5 |
| Poland | 8 | 4 |
The opportunity cost of 1 unit of wheat in Poland is ________.
d. 1/2 of a unit of computers...
Read Morehe following table shows the units of output a worker can produce per month in Germany and Poland. Use this table to answer the question.
| Wheat | Computers | |
| Germany | 20 | 5 |
| Poland | 8 | 4 |
The opportunity cost of 1 unit of wheat in Germany is ________.
c) 1/4 of a unit of computers...
Read MoreThe following table shows the units of output a worker can produce per month in Germany and Poland. Use this table to answer the question.
| Wheat | Computers | |
| Germany | 20 | 5 |
| Poland | 8 | 4 |
The opportunity cost of 1 unit of computers in Poland is ________.
c. 2 units of wheat...
Read Morehe following table shows the units of output a worker can produce per month in Germany and Poland. Use this table to answer the question.
| Wheat | Computers | |
| Germany | 20 | 5 |
| Poland | 8 | 4 |
The opportunity cost of 1 unit of computers in Germany is ________.
4 units of wheat...
Read MoreThe following table shows the units of output a worker can produce per month in Germany and Poland. Use this table to answer the question.
| Wheat | Computers | |
| Germany | 20 | 5 |
| Poland | 8 | 4 |
Which of the following statements about absolute advantage is true?
a) Germany has an absolute advantage in the production of both wheat and computers....
Read Morec. the opportunity cost of 1 pen is 3 pencils...
Read Morea. the domestic price of 1 pencil is 1/3 of a pen...
Read More