Multiple Choice
This table shows the hypothetical effect of a redeployment of resources within the United States and the Arab countries for the production of oil and wheat.
-Which of the following can be inferred from the table?
A) It costs the United States 5 billion barrels of oil for every 1 billion bushels of wheat.
B) The Arab countries have an absolute advantage in both oil and wheat.
C) It cost the Arabs 1 barrel of oil for every 0.10 bushel of wheat.
D) The United States has a comparative advantage in both oil and wheat.
E) It costs the United States 1 barrel of oil for every 1.25 bushels of wheat.
Correct Answer:
Verified
Correct Answer:
Verified
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