ECN 351 Essentials of Economic Interdependence and Gains from Trade

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ECN 351 Essentials for Economics

QUESTION 1: If the United States could produce five televisions per hour of labor and China could produce three televisions per hour of labor, would it necessarily follow that the United States should specialize in television production? Why or why not?

Yes US should specialize in production of television, under macroeconomic specialization US should focus in production television due to comparative advantage.

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