For each watch Denmark produces, it gives up the opportunity to make 50 pounds of cheese. Germany can produce one watch for every 100 pounds of cheese it produces. Which of the following is true concerning comparative advantage between the two countries?
a. Denmark has the comparative advantage in watches and cheese.
b. Germany has the comparative advantage in watches and cheese.
c. Germany has the comparative advantage in watches.
d. Denmark has the comparative advantage in watches.
e. Denmark has the comparative advantage in cheese.
D
Economics
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Which of the following countries has the largest projected net debt as a percentage of their GDP for 2011?
a. Japan b. The US c. Germany d. Italy
Economics
Refer to the short-run production and cost data. In Figure A curve (1) is:
A. total product and curve (2) is average product.
B. total product and curve (2) is marginal product.
C. average product and curve (2) is marginal product.
D. marginal product and curve (2) is average product.
Economics