For country North, the opportunity cost incurred when 3 tractors are produced is 21 watches. For country South, the opportunity cost incurred when 5 tractors are produced is 100 watches
Which country has the comparative advantage in the production of tractors?
A) South
B) North
C) Both have the comparative advantage in the production of tractors.
D) Neither country has the comparative advantage in the production of tractors.
E) More information is needed about which country has the comparative advantage in the production of watches.
B
Economics
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Is it possible to design a tax that does all of the following: i) leaves behavior unchanged so that the quantity demanded of goods and services does not change, ii) creates no excess burden, iii) is not regressive, and iv) is welfare enhancing?
What will be an ideal response?
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If this is a closed economy, the number of TVs exchanged will be ________.
A. 120,000 B. 90,000 C. 60,000 D. 30,000
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