How can economics and comparative advantage explain

Reference no: EM13687435

The United States has been the largest exporter of corn for over 40 years. How can Economics and comparative advantage explain this?

1) Other countries have no use for corn since they produce other foods.

2) The U.S. produces corn because it sells at a higher price than other goods.

3) The U.S. has a large amount of land input, and this resource endowment gives the U.S. a comparative advantage in producing goods which require a lot of land to produce

4) The U.S. has the comparative advantage in corn production because labor in cheaper in the U.S. compared to other countries.

Reference no: EM13687435

Questions Cloud

What are the dimensions of the circular faces : A spacecraft with circular (north and south sides) of diameter 325.0 m passes Earth moving eastward (in relation to you), What are the dimensions of the circular faces according to the earthbound observer

Quantity of medical services based on require instead market : Determining the quantity of medical services based on require instead of the market can lead to- An over provision of medical services, An under provision of medical services

What current must be in the solenoid : A solenoid of radius 1.0 m with 740 turns and a length of 4.6 m surround a pigeon cage. What current must be in the solenoid

Ppl corporation : PPL Corporation

How can economics and comparative advantage explain : The United States has been the largest exporter of corn for over 40 years. How can Economics and comparative advantage explain this? Other countries have no use for corn since they produce other foods.

What hall voltage is produced : What Hall voltage is produced by a 0.240 T field applied across a 2.60 cm diameter aorta when blood velocity is 57.0 cm/s

Non-annual compounding : How do we calculate the EAR for other than non-annual compounding?

Confidence interval problem : In a survey on downloading music, a poll asked 705 internet users if they "ever downloaded music from an internet site that was not authorized by a record company, or not" and 15 percent responded "yes." Construct a 99 percent confidence interval for..

What should be its rotation period : To simulate the extreme accelerations during launch, astronauts train in a large centrifuge, what should be its rotation period to produce a centripetal acceleration

User Account

All Pages