The new growth theory emphasizes the critical role of ____ in modern economic growth

All of the following are characteristics of public goods EXCEPT

A) public goods can be used by more people at no additional cost. B) the good can be consumed by everyone at the same time without reducing what is available for anyone else. C) the exclusion principle. D) the goods are perfectly divisible.

If 1 bottle of wine costs 4 loaves of bread in England, then 1 loaf of bread must cost 1/4 bottle of wine. For England to specialize in bread production, England must be a more efficient bread producer than Portugal, which means that England's cost of producing bread must be less than Portugal's cost. Thus if producing 1 loaf of bread in Portugal costs more than 1/4 bottle of wine (or, equivalently, if producing 1 bottle of wine in Portugal costs less than 4 loaves of bread), then England will specialize in bread production and Portugal will specialize in wine production.

(i) What is the cost of growing a bushel of wheat in each state? What is the cost of growing a bushel of corn in each state? (ii) Suppose each state is self-sufficient and there is no trade. If each state chooses to produce equal amounts of the two crops, how much wheat and corn will each state produce? (iii) If the two states begin to trade, with each specializing in its area of comparative advantage, which state will produce wheat and which state will produce corn? How will the total production between the two states compare to the situation where each was self-sufficient?