A country has absolute advantage in production of a product if
A) It can produce more of the product than another country
B) It can produce at a smaller dollar cost than another country
C) It can produce at a smaller opportunity cost than another country
D) It can consume more of a product than another country.
Correct Answer:
Verified
Q10: Terms of trade is
A)The marginal cost of
Q11: Goods and services produced domestically but sold
Q12: A country is said to have _
Q13: Use the graph below to answer questions
Q14: Goods and services produced abroad but sold
Q16: According to the graph which of the
Q17: The largest category of U.S.goods exported is
A)Capital
Q18: The reason why countries trade can best
Q19: The terms of trade reflects
A)How imports affects
Q20: You and your neighbor both can bake
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