Questions For Review

1. Under what conditionĀ» is 111Ā«.; production possibilities frontier linear rather than bowed out?

2. Explain how absolute advantage and comparative advantage differ.

3. Give an example in which one person has an absolute advantage in doing something but another person has a comparative advantage.

A. Is absolute advantage or comparative advantage more important for trade? Explain your reasoning using the example in your answer to Question 3.

5. Will a nation tend to export or import goods for which it has a comparative advantage? Explain.

6. Why do economists oppose policies that restrict trade among nations?

Was this article helpful?

0 0
Single Parenting

Single Parenting

Finally! You Can Put All Your Worries To Rest! You Can Now Instantly Learn Some Little-Known But Highly Effective Tips For Successful Single Parenting! Understand Your Role As A Single Motherfather, And Learn How To Give Your Child The Love Of Both Parents Single Handedly.

Get My Free Ebook

Post a comment