If one country can produce a good with fewer resources than another country, this is called:
A) specialization.
B) geographic advantage.
C) comparative advantage.
D) absolute advantage.
Correct Answer:
Verified
Q20: Comparative advantage indicates that:
A) specialization and exchange
Q21: Exhibit 15-3 Potatoes and wheat output (tons
Q23: Exhibit 15-3 Potatoes and wheat output (tons
Q24: If a country has a lower opportunity
Q26: If nation A has a comparative advantage
Q27: Absolute advantage occurs when one nation can
Q28: A country is said to have an
Q29: If Japan gives up ten bushels of
Q30: Suppose rice can be produced in country
Q41: When Brazil can generate a product using
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