Suppose that in the United States, producing an aircraft takes 10,000 hours of labor and producing a shirt takes 2 hours of labor. In China, producing an aircraft takes 40,000 hours of labor and producing a shirt takes 4 hours of labor. What will these nations trade?
a. China will export aircraft, and the United States will export shirts.
b. China will export shirts, and the United States will export aircraft.
c. Both nations will export shirts.
d. There are no gains from trade in this situation.
Principles of Microeconomics (MindTap Course List)
Brief Principles of Macroeconomics (MindTap Course List)
ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
Probability and Statistics for Engineering and the Sciences
STATISTICS F/BUSINESS+ECONOMICS-TEXT
Principles of Economics (MindTap Course List)
Cornerstones of Financial Accounting
Fundamentals of Financial Management, Concise Edition (MindTap Course List)
Accounting Information Systems
Financial & Managerial Accounting
Corporate Financial Accounting
Fundamentals of Financial Management (MindTap Course List)
Foundations of Business (MindTap Course List)
Fundamentals Of Financial Management, Concise Edition (mindtap Course List)
Essentials of Business Communication (MindTap Course List)
Management, Loose-Leaf Version
Financial And Managerial Accounting
Financial Accounting
College Accounting, Chapters 1-27
Essentials of Economics (MindTap Course List)
Contemporary Marketing
MKTG 12:STUDENT ED.-TEXT
Financial & Managerial Accounting
Financial Accounting
College Accounting (Book Only): A Career Approach
Managerial Accounting: The Cornerstone of Business Decision-Making
Accounting Information Systems
Intermediate Accounting: Reporting And Analysis
Principles of Macroeconomics (MindTap Course List)
Statistics for Business & Economics, Revised (MindTap Course List)
Exploring Economics
Accounting (Text Only)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
Fundamentals of Financial Management (MindTap Course List)
Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)
College Accounting (Book Only): A Career Approach
Pkg Acc Infor Systems MS VISIO CD
Economics For Today
Macroeconomics
Economics (MindTap Course List)
Corporate Financial Accounting
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Cornerstones of Cost Management (Cornerstones Series)
Practical Management Science
Survey of Accounting (Accounting I)
Purchasing and Supply Chain Management
Principles of Microeconomics
Micro Economics For Today
Microeconomics: Private and Public Choice (MindTap Course List)
Economics: Private and Public Choice (MindTap Course List)
MACROECONOMICS FOR TODAY
Macroeconomics: Private and Public Choice (MindTap Course List)
Understanding Management (MindTap Course List)