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- 1. Multiple ChoiceThe U.S. can produce 50 cars and 25 tools. Peru can produce 20 cars and 15 tools. What is the opportunity cost of producing a car in the U.S.?.5 tools.5 cars.75 cars1.3 tools
- 2. Multiple ChoiceFrom the last question, who has the absolute advantage in tools?PeruU.S.neithernot enough info
- 3. Multiple ChoiceFrom the 1st question, who has the absolute advantage in the production of cars?U.S.Peruneithernot enough info
- 4. Multiple ChoiceWho has the comparative advantage in cars?PeruneitherU.S.not enough info
- 5. Multiple ChoiceWhat is the opportunity cost of making 1 car in Peru?.5 cars.75 tools1.3 tools2 tools
- 6. Multiple ChoiceWhat should the U.S. import?carstoolsbothnot enough info
- 7. Multiple ChoiceWhat should Peru export?carstoolsloverainbows
- 8. Multiple ChoiceWhat is the opportunity cost of producing a tool in the U.S.?.5 cars.75 tools2 cars1.3 cars
- 9. Multiple ChoiceThe U.S. can produce 10 ipads or 20 phones. China can produce 20 ipads or 30 phones. Who should produce what?U.S.-ipads
China- phonesU.S. phones
China- ipadsboth should produce ipadsthey should not specialize - 10. Multiple ChoiceWhat is the opportunity cost of producing 1 ipad in the U.S.?2 phones1.5 phones.5 phones.33 phones
- 11. Multiple ChoiceWhat is the opportunity cost of producing 1 phone in China?2 ipads.5 ipads.66 ipads1.5 ipads
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