estion 4 (1 point) Answer question 4 on the basis of the following table, assumi

Question

estion 4 (1 point)

Answer question 4 on the basis of the following table, assuming just two countries, two goods, and only one input, labor.

Which of the following is true? (2 points)

Question 4 options:

the U.S. has both an absolute and a comparative advantage in fish

if the international exchange rate(terms of trade)and Sweden is 1 flag for 5 fish then both countries can benefit from international trade

if the output/labor ratio for fish in the U.S. were 80 instead of 120, then international trade would still be beneficial to either the U.S. or Sweden

both a) and b) are true

none of the above are true

the U.S. has both an absolute and a comparative advantage in fish

if the international exchange rate(terms of trade)and Sweden is 1 flag for 5 fish then both countries can benefit from international trade

if the output/labor ratio for fish in the U.S. were 80 instead of 120, then international trade would still be beneficial to either the U.S. or Sweden

both a) and b) are true

none of the above are true

Explanation / Answer

only a is true. so option a.

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