Japan is more efficient in the production of rice, and the United States is more

Question

Japan is more efficient in the production of rice, and the United States is more efficient in the production of oranges. In the production of oranges, the United States is said to have a(n): The equilibrium quantity will decrease and the price might rise, fall, or stay the same when the Which of the following influences people's buying plans and does not shift the demand curve? Gross domestic product (GDP) is the in a given time period. If a producer can use resources to produce either good A or good B, then A and B are A complement is a good: If technological advances lower the cost of computer chips, in the market for computers the equilibrium price will and the equilibrium quantity will. The largest component of GDP in the expenditures approach is A substitute is a good: Economics is best defined as the study of how people, businesses, governments, and societies

Explanation / Answer

5) c) absolute advantage

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