What does it mean if a country has a comparative advantage in the production of a product?
A) It has a lower opportunity cost than rivals.
B) It can produce more than rivals.
C) It is charging more than rivals.
D) It is subsidized by the government.
Correct Answer:
Verified
Q1: Measures to restrict imports into a country
Q2: A limit on the number of imports
Q3: Complete the sentence. In a customs union…
A)
Q4: Which of the following statements about a
Q6: The opportunity cost of 1X in country
Q7: An increase in the exchange rate increases
Q8: Reasons for protectionism do NOT include
A) Protecting
Q9: The principle of comparative advantage is based
Q10: Comparative advantage is based on the principle
Q11: If a country can produce 300 units
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