múltiple choice sapling learning Use the information provided to answer the foll

Question

múltiple choice sapling learning Use the information provided to answer the following three multiple choice questions Suppose that Brazil and China trade cotton and wheat. Brazil specializes in the production of cotton and produces 10,000 units of catton. China specializes in the production of wheat and produces 20,000 bushels s wheat. After trade, Brazil ons me 7,5 its of cott n nd 5,00 bust els f wheat. Aner trade, consumes 2.500 units of coton and 15,000 bushels of wheat. Assume that the two countries only trade with each other and only trade cotton and wheat 1. What are terms of rade: sometimes just witten as TOT? 1. What are "terms of trade", sometimes just written as TOT? O Tarlf agreements between two countries (Tariffs Of Two - TOT-countries). O An agreement to fix prices for traded goods O The ratio at which a country can trade its exports for imports from other countries. Import quota agreements between two countries 2 which country lkely has a comparative advantage in the production of wheat? O Neither O Brazil O China 3. What are the terms of trade between the two countries? O 1 unit of cotton to 1 bushel of wheat O 3 bushels of wheat to 2 units of cotorn O 1 unit of cotton to 2 bushels of wheat !bushel of wheat to 2 units of cotton Hint bout us careers parers privecy policy terms ofuise cont

Explanation / Answer

1.The ratio at which a country can trade its exports for imports from other countries.

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