The concept of "comparative advantage" refers to the
A) terms of trade index.
B) gains from international trade.
C) ability of one region to produce a commodity with fewer total inputs than another region.
D) ability of one region to produce a commodity at a lower opportunity cost than another region.
E) ability of one region to produce a commodity with less labour input than another region.
Correct Answer:
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Q1: The diagram below shows the (hypothetical)demand and
Q3: The diagram below shows the (hypothetical)demand and
Q4: The concept of comparative advantage in international
Q5: The diagram below shows the domestic demand
Q6: Economies of scale and product differentiation can
Q7: The division of the gains of trade
Q8: Suppose that Spain is currently producing 90
Q9: The figure below shows Arcticland's annual production
Q10: If Country A has a comparative advantage
Q11: If,over a period of a year,a country's
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