1.Consider the following hypothetical information about the United States and South Korea shown in Exhibit 4.

a.

OUTPUT PER WORKER PER DAY

UNITEDSOUTH

STATESKOREA

Tons of steel84

Bushels of wheat808

b.Absolute advantage in wheat production?

c.Comparative advantage in steel production? __________________________

d.Comparative advantage in in wheat production? ____________________________

e.If these countries trade steel and wheat with each other, which country will export steel and import wheat?