A country is said to have an absolute advantage in the production of a good when:
A) its opportunity cost of producing the good is lower than another country.
B) it can produce the good using fewer resources than another country.
C) it specializes in the production of the good.
D) it has a favorable exchange rate compared to another country's currency.
Correct Answer:
Verified
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Q26: If nation A has a comparative advantage
Q27: Absolute advantage occurs when one nation can
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