Two countries can achieve gains from trade even if one country has an absolute advantage in the production of both goods

a. True
b. False
Indicate whether the statement is true or false

True

Economics

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In the figure above, the lowest 20 percent of all households own ________ percent of all wealth, the next lowest 20 percent own ________ percent of all wealth and the richest 20 percent own ________ percent of all wealth

A) 20; 20; 20 B) 20; 40; 100 C) 5; 15; 40 D) 5; 20; 60

Economics

On a diagram of a production possibilities frontier, opportunity cost is represented by the slope of the production possibilities frontier

Indicate whether the statement is true or false

Economics