If Japan has an absolute advantage over the United States in making TVs, then Japan:
A) likely sells TVs to the United States.
B) produces more TVs than the United States using the same resources.
C) has the ability to produce TVs at a lower opportunity cost than the United States.
D) will have no reason to trade with the United States.
Correct Answer:
Verified
Q1: If Colombia has a comparative advantage over
Q3: When trade is possible, each country can
Q4: When each country specializes in producing the
Q5: Absolute advantage is the ability to produce:
A)more
Q6: Voluntary exchanges generate:
A)surplus, leaving both participants better
Q7: When a country has the ability to
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
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