Multiple Choice
If Japan could produce more steel in a year than the United States using the same amount of resources,then
A) Japan must have an absolute advantage in producing steel
B) the United States must have a comparative advantage in producing steel
C) Japan must have a comparative advantage in producing steel
D) neither the United States nor Japan will have a comparative advantage in producing steel
E) there would be no gains from specialization
Correct Answer:
Verified
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