Quiz_4.pdf

Economics 340 with Matusz at Michigan State University

About this note

By: Kirsten Rickard
Textbook:

International Economics (Mcgraw-Hill Series Economics)

Outlines & Highlights for International Economics by Thomas Pugel, ISBN: 9780073375755
Created: 2010-02-21
File Size: 1 page(s)
Views: 2

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Quiz 4 (January 28, 2010) Use the two Production Possibilities Curves shown here to answer the questions that follow. 1. Which of the following is true? a. Foreign has an absolute advantage in both X and Y. b. Home has a comparative advantage in X. c. Both of the above are true. d. None of the above are true. 2. Which of the following could be an equilibrium outcome with trade? a. 1 unit of Y has the same value as 2 units of X. b. 1 unit of X has the same value as 2 units of Y. c. Both of the above could be equilibrium outcomes. d. Neither (a) nor (b) could be equilibrium outcomes. matusz Microsoft Word - Quiz 4