Which of the following statements is true?
A) If a country can produce a good at a lower cost than others, then it has a comparative advantage in producing that good.
B) If a country can produce a good at a higher opportunity cost than others, then it has a comparative advantage in producing that good.
C) If a country has an absolute advantage in producing all the goods, it can still engage in mutually beneficial trade with other countries.
D) If a country does not have an absolute advantage in producing any good, then it cannot have a comparative advantage in producing any good.
Correct Answer:
Verified
Q27: Refer to the figure PPF and Comparative
Q28: Refer to the figure PPF and Comparative
Q29: Refer to the figure PPF and Comparative
Q30: Refer to the figure PPF and Comparative
Q31: Refer to the figure PPF and Comparative
Q33: Which of the following statements is NOT
Q34: In the absence of trade, the consumption
Q35: Which of the following statements is true?
A)
Q36: Portugal specializes in the production of wine
Q37: Portugal specializes in the production of wine,
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