Which of the following statements is NOT true?
A) If a country has a comparative advantage in producing a good, then it must have an absolute advantage in producing that good.
B) A country can engage in beneficial trade even if it has an absolute advantage in producing all goods.
C) If a country can produce a good at a lower opportunity cost than others, then it must have a comparative advantage in producing that good.
D) A country can have both an absolute and a comparative advantage in producing a good.
Correct Answer:
Verified
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
Q32: Which of the following statements is true?
A)
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,
Q38: Portugal specializes in the production of wine
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