Question : 41.If a country possesses the absolute advantage in the production : 1378980

41.If a country possesses the absolute advantage in the production of one good:

A. then it must also possess the absolute advantage in the production of the other good.

B. then it must also possess the comparative advantage in the production of that good.

C. then it must also possess the comparative advantage in the production of the other good.

D. it can produce more of that good given the same resources.

42.Suppose that only two goods are produced in an economy. If a country possesses the comparative advantage in the production of one good:

A. then it must also possess the comparative advantage in the production of the other good.

B. then it must also possess the absolute advantage in the production of that good.

C. then it cannot also possess the comparative advantage in the production of the other good.

D. then it cannot also possess the absolute advantage in the production of that good.

43.Suppose an American worker can make 20 pairs of shoes or grow 100 apples per day. A Canadian worker, on the other hand, can produce 10 pairs of shoes or grow 20 apples per day. Which of the following statements is true?

A. The United States has the absolute advantage in the production of both shoes and apples.

B. Canada has the absolute advantage in the production of both shoes and apples.

C. The United States has the absolute advantage in the production of shoes and Canada has the absolute advantage in the production of apples.

D. Canada has the absolute advantage in the production of shoes and the United States has the absolute advantage in the production of apples.

44.Suppose an American worker can make 20 pairs of shoes or grow 100 apples per day. A Canadian worker, on the other hand, can produce 10 pairs of shoes or grow 20 apples per day. Which of the following statements is true?

A. The United States has an absolute advantage and comparative advantage in the production of shoes.

B. The United States has an absolute advantage and comparative advantage in the production of apples.

C. The United States has an absolute advantage in the production of both goods, and comparative advantage in the production of neither.

D. The United States has an absolute advantage in the production of both goods, and comparative advantage in the production of both.

45.Suppose an American worker can make 20 pairs of shoes or grow 100 apples per day. A Canadian worker, on the other hand, can produce 10 pairs of shoes or grow 20 apples per day. Which of the following statements is true?

A. The United States has a comparative advantage in the production of shoes.

B. Canada has a comparative advantage in the production of shoes.

C. Comparative advantage doesn’t exist in this scenario.

D. Both countries have a comparative advantage in the production of shoes.

46.Suppose an American worker can make 20 pairs of shoes or grow 100 apples per day. A Canadian worker, on the other hand, can produce 10 pairs of shoes or grow 20 apples per day. The United States should:

A. produce both goods, since they have an absolute advantage in both goods, and not trade.

B. produce only shoes, since they have a comparative advantage in the production of shoes, and not trade.

C. produce apples, since they have a comparative advantage in the production of apples, and not trade.

D. produce apples, since they have a comparative advantage in the production of apples, and trade for shoes.

47.Suppose an American worker can make 20 pairs of shoes or grow 100 apples per day. A Canadian worker, on the other hand, can produce 10 pairs of shoes or grow 20 apples per day. The opportunity cost of one pair of shoes for the United States is _______, while the opportunity cost of one pair of shoes for Canada is _________.

A. 5 apples; 2 apples

B. 1/5 apple; ½ apple

C. 2,000 apples; 200 apples

D. 100 apples; 20 apples

48.Suppose an American worker can make 20 pairs of shoes or grow 100 apples per day. A Canadian worker, on the other hand, can produce 10 pairs of shoes or grow 20 apples per day. The opportunity cost for the United States is:

A. 5 apples for each pair of shoes.

B. 5 pairs of shoes for each apple.

C. 1/5 apple for each pair of shoes.

D. 1 pair of shoes for every 2 apples.

49.Suppose an American worker can make 20 pairs of shoes or grow 100 apples per day. A Canadian worker, on the other hand, can produce 10 pairs of shoes or grow 20 apples per day. The opportunity cost for Canada is:

A. 2 apples for each pair of shoes.

B. 2 pairs of shoes for each apple.

C. ½ apple for each pair of shoes.

D. ½ pair of shoes for every 2 apples.

50.Suppose an American worker can make 20 pairs of shoes or grow 100 apples per day. A Canadian worker, on the other hand, can produce 10 pairs of shoes or grow 20 apples per day. The opportunity cost of a pair of shoes is __________ for the United States than Canada, so Canada has the ______________ advantage in shoe production.

A. higher; comparative

B. lower; comparative

C. higher; absolute

D. lower; absolute