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lmalma lmalma
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5 years ago

Question 1.

If the opportunity cost of corn to wheat is 3:1 in the United States and 5:1 in France, both countries would benefit from trade if the actual terms of trade between corn and wheat were 4:1.



▸ true

▸ false

Question 2.

If the opportunity cost of corn to wheat is 3:1 in the United States and 5:1 in France, only France would benefit from trade if the actual terms of trade between corn and wheat were 7:1.



▸ true

▸ false
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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osvaldoguzmanosvaldoguzman
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5 years ago
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lmalma Author
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#2
5 years ago
Thank you for answering so quickly
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