Table 2-6One Cell Phone Lumber (per board foot) Estonia 40 hours 8 hours Finland 16 hours 4 hours Table 2-6 shows the number of labor hours required to produce a cell phone and a board foot of lumber in Estonia and Finland. Refer to Table 2-6. If the two countries specialize and trade, who should export cell phones? There is no basis for trade between the two countries. Estonia Finland They should both be importing cell phones.
Table 2-6One Cell Phone Lumber (per board foot) Estonia 40 hours 8 hours Finland 16 hours 4 hours Table 2-6 shows the number of labor hours required to produce a cell phone and a board foot of lumber in Estonia and Finland. Refer to Table 2-6. If the two countries specialize and trade, who should export cell phones? There is no basis for trade between the two countries. Estonia Finland They should both be importing cell phones.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 31P: Review the numbers for Canada and Venezuela from Table 33.12 which describes how many barrels of oil...
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Table 2-6
One Cell Phone
Lumber (per board foot)
Estonia
40 hours
8 hours
Finland
16 hours
4 hours
Table 2-6 shows the number of labor hours required to produce a cell phone and a board foot of lumber in Estonia and Finland.
Refer to Table 2-6. If the two countries specialize and trade, who should export cell phones?
There is no basis for trade between the two countries.
Estonia
Finland
They should both be importing cell phones.
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