When a nation has a comparative advantage in the production of a particular good,
A) the opportunity cost of producing that good is higher than that of other goods.
B) the nation can gain from trade.
C) the comparative advantage encourages self- sufficiency.
D) the nation tends to avoid specialization.
Correct Answer:
Verified
Q258: A person has a comparative advantage in
Q297: Economic growth
A) allows us to increase our
Q298: Q299: Using a production possibilities frontier, economic growth Q300: The opportunity cost of more capital goods Q301: An economy produces only food and shelter. Q303: The kitchen manager at an Italian restaurant Q305: In an eight- hour day, Andy can Q306: If Tom and Di specialize in producing Q307: Which of the following describes comparative advantage?
A)
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents