Question Completion Status:QUESTION 5If an economy is in autarky (self-sufficient), then the production possibilities frontieris the same as the consumption possibilities frontier.is greater than the consumption possibilities frontier.is less than the consumption possibilities frontier.is always a straight line.a.b.С.d.O aO bO dQUESTION 6Table 1.Number of hours laborneeded to producea pizzaa burgerUnitedStates2 hs2 hsItaly1 hs4 hsRefer to Table 1. Which country has the absolute advantage in the production of pizza?a.United Statesb.ItalyС.Both Italy and United Statesd.There is no enough information to determine which country has the absolute advantageO a

Name: Question Completion Status:QUESTION 5If an economy is in autarky (sel
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Description: Question Completion Status:QUESTION 5If an economy is in autarky (self-sufficient), then the production possibilities frontieris the same as the consumption possibilities frontier.is greater than the consumption possibilities frontier.is less than t

Production possibilities frontier shows all that combinations of two goods which can be produced…

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Economics

QUESTION 5 If an economy is in autarky (self-sufficient), then the production possibilities frontier is the same as the consumption possibilities frontier. is greater than the consumption possibilities frontier. is less than the consumption possibilities frontier. is always a straight line. a. b. C. d. O a O b O d QUESTION 6 Table 1. Number of hours labor needed to produce a pizza a burger United States 2 hs 2 hs Italy 1 hs 4 hs Refer to Table 1. Which country has the absolute advantage in the production of pizza? a. United States b. Italy Both Italy and United States There is no enough information to determine which country has the absolute advantage С. d. O a

QUESTION 5 If an economy is in autarky (self-sufficient), then the production possibilities frontier is the same as the consumption possibilities frontier. is greater than the consumption possibilities frontier. is less than the consumption possibilities frontier. is always a straight line. a. b. C. d. O a O b O d QUESTION 6 Table 1. Number of hours labor needed to produce a pizza a burger United States 2 hs 2 hs Italy 1 hs 4 hs Refer to Table 1. Which country has the absolute advantage in the production of pizza? a. United States b. Italy Both Italy and United States There is no enough information to determine which country has the absolute advantage С. d. O a

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter3: Scarcity, Trade-offs, And Production Possibilities

Section: Chapter Questions

Problem 7P

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