If a country has an absolute advantage in producing a good,_____.
A) the country is able to produce that good using fewer resources than other countries
B) the opportunity cost of producing the good is the lowest in that country
C) the productivity of workers in that country is lower than that in all countries
D) the country produces as many units of the good as demanded domestically
E) countries of the same size have the same opportunity cost of producing both goods
Correct Answer:
Verified
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Q9: The terms of trade refers to:
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Q11: The law of comparative advantage states that:
A)each
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