Comparative advantage is the ability to produce:
A) more of a good than others with a given amount of resources.
B) relatively more of one good than any other good with a given amount of resources.
C) a good or service at a lower opportunity cost than others.
D) more of a good at a lower cost than others.
Correct Answer:
Verified
Q8: When a country has the ability to
Q9: If Spain sells soccer balls to the
Q10: Which of the following is not an
Q11: Voluntary exchanges between _ generate surplus.
A)firms
B)countries
C)individuals
D)All of
Q12: When two countries specialize and trade:
A)they both
Q14: Gains from trade is the:
A)increase in welfare
Q15: Only a firm with _ at producing
Q16: The increase in welfare, in both countries'
Q17: Which of the following is true about
Q18: Both countries can benefit from trade when:
A)at
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