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The following is a table of two countries showing labor cost to produce Good A to Good J;   A B C D E F G H I J Country I 100 100 100 100 100 100 100 100 100 100 Country II 288 180 160 140 120 100 80 60 40 20   Assuming labor as the only cost and exchange rate is 1:1 ================     The goods that Country I will export Select one: a. diminishes in number and in volume/value b. diminishes in number but not necessarily in volume/value c. will make the country worse off immediately d. none of the above

The following is a table of two countries showing labor cost to produce Good A to Good J;   A B C D E F G H I J Country I 100 100 100 100 100 100 100 100 100 100 Country II 288 180 160 140 120 100 80 60 40 20   Assuming labor as the only cost and exchange rate is 1:1 ================     The goods that Country I will export Select one: a. diminishes in number and in volume/value b. diminishes in number but not necessarily in volume/value c. will make the country worse off immediately d. none of the above

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter23: The International Trade And Capital Flows
Section: Chapter Questions
Problem 19SCQ: Describe a scenario in which a trade surplus benefits an economy and one in which a trade surplus is...
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The following is a table of two countries showing labor cost to produce Good A to Good J;

  A B C D E F G H I J
Country I 100 100 100 100 100 100 100 100 100 100
Country II 288 180 160 140 120 100 80 60 40 20

 

Assuming labor as the only cost and exchange rate is 1:1

================


 

 

The goods that Country I will export

Select one:
a.

diminishes in number and in volume/value

b.

diminishes in number but not necessarily in volume/value

c.

will make the country worse off immediately

d.

none of the above

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