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WorksheetsKinh tế quốc tế Nhóm 1
Total questions: 10
Worksheet time: 5mins
Comparative advantage theory was proposed by ________ in 1817
Adam Smith
John Dunning
Eli Hecksher
David Ricardo
Which of the following statements is true about Comparative Advantage theory?
The most efficient country is the one that can produce goods at the lowest opportunity cost.
A country should import goods that are most efficient in production.
Countries should not trade with each other and produce all goods independently.
It does not support free trade among nations.
Every country has at least one comparative advantage in something.
True
False
The cost of the next most valuable opportunity is known as a:
Sunk cost
Opportunity cost
Comparative advantage
Absolute advantage
If two countries specialize in their ________ and trade, both countries will be better off.
absolute advantage
comparative advantage
proportional advantage
Based on Comparative Advantage theory, Vietnam should produce ______, while Sri Lanka should produce ______.
coffee, tea
coffee, coffee
tea, coffee
tea, tea
What is the opportunity cost of producing a car in the U.S.?
0.5 tools
0.5 tools
0.75 cars
1.3 tools
The U.S. can produce 10 iPad or 20 phones. China can produce 20 iPad or 30 phones. Who should produce what?
U.S. - iPad, China - phones
U.S. - phones, China- iPad
both should produce iPad
they should not specialize
Which country has the absolute advantage in producing airplanes?
Japan
United States
Both of them
None of them
Based on Absolute Advantage theory, India should produce _____, while Brazil should produce -------
corn, corn
wheat, wheat
wheat, corn
corn, wheat
