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What Is Meant by Absolute Advantage

Question 21

Multiple Choice

What is meant by absolute advantage?


A) To produce a unit of goods as efficiently as any other country
B) To produce a unit of goods more efficiently using more labour than another country
C) To produce a unit of goods less efficiently using more labour than another country
D) To produce a unit of goods inefficiently using less labour than another country
E) To produce a unit of goods more efficiently using less labour than another country

Correct Answer:

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